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5118 Lower Elm #93 Atlanta, GA 30349

3 Beds 3 Baths 1,623 sqft Built 2021

$204,395

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $125.94
  • 4 Days on Market
  • MLS # : 6810530
  • Updated Date : 11/19/2020 at 20:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,623 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Ready February 2021! This Darby "A" 1,623 SQ FT END UNIT features open concept living area, 3 beds / 2.5 baths. Granite kitchen countertops, 42" espresso kitchen cabinets with crown molding, kitchen island with double sinks and garbage disposal. Stainless steel appliances; microwave, stove and dishwasher. Huge walk in closet in Owner's suite. Double vanity in Owner's bathroom. Spacious secondary bedrooms, cultured marble sink in secondary bath. Blinds on all windows and 1 car garage. The pictures do not do it justice! Stop by for a tour TODAY!! "Selling FAST!!!”

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Headquarters to twenty-six Fortune 500 companies: The Home Depot, UPS, Delta Air Lines, The Coca-Cola Company, SunTrust Banks, The Southern Company, AGCO, PulteGroup (Fortune, 2018/ Metro Atlanta Chamber)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Zip Code: 30349

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $82k235k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 30349

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8171714

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Wolf Creek Elementary School Primary Regular NA
Renaissance Middle School Middle Regular 1,208 83 3
Langston Hughes High School High Regular 1,890 105 3

Wolf Creek Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Renaissance Middle School

  • Education Level: Middle
  • # of students: 1,208
  • # of teachers: 83
3
GreatSchools Rating

Langston Hughes High School

  • Education Level: High
  • # of students: 1,890
  • # of teachers: 105
3
GreatSchools Rating
 

$183,956$224,835$204,395

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$754
Property Tax -$250
Property Insurance -$59
HOA -$70
Property Management Fees -$119
CASH FLOW
$48

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$204,395

PROJECTED PRICE

$1,300

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 3.00%
Vacancy 8.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,165

INVESTMENT

$56,165

Down Payment
$51,099
Rehab Estimate
$2,000
Closing Costs
$3,066

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$754

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,099
Loan Amount $153,296
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$9,023

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,300

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,201

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,3003$1,4114$1,475
$1,475
RENT COMPS ANALYSIS
  • 5118 Lower Elm Atlanta, GA 2
    • 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.80
    •  
  • 10247 Deep Creek Place Union City, GA 1
    • 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 2005
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.72
    •  
  • 10142 Deep Creek Drive Union City, GA 3
    • 3 beds 2 baths ∙ 1,938 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,938 Sqft ∙ Built 2002
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,411
    • $0.73
    •  
  • 4961 Rapahoe Trail Atlanta, GA 4
    • 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2007
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.77
    •  
PROPERTY LISTING DETAILS
Bonji Hopson
1.404.918.4420
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6810530
Last Updated: 11/19/2020
support@investimateroi.com

Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. © 2017 First Multiple Listing Service, Inc.

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