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515 Cascade Rise Court Sw Atlanta, GA 30331

4 Beds 3 Baths 2,039 sqft Built 1995

$189,900

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $93.13
  • 4 Days on Market
  • MLS # : 6814935
  • Updated Date : 12/04/2020 at 23:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,039 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Property Sold As Is. Buyer must be willing to make repairs on this corner lot 4 bedroom, 2.5 bath with 2 fireplace home.

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MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30331

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $82k235k

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

Zip Code: 30331

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7971714

* 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
A. Phillip Randolph Elementary School Primary Regular 643 39 5
Sandtown Middle School Middle Regular 1,168 80 3
Westlake High School High Regular 2,023 116 6

A. Phillip Randolph Elementary School

  • Education Level: Primary
  • # of students: 643
  • # of teachers: 39
5
GreatSchools Rating

Sandtown Middle School

  • Education Level: Middle
  • # of students: 1,168
  • # of teachers: 80
3
GreatSchools Rating

Westlake High School

  • Education Level: High
  • # of students: 2,023
  • # of teachers: 116
6
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$701
Property Tax -$212
Property Insurance -$67
HOA -$25
Property Management Fees -$119
CASH FLOW
$417

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$189,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

13.25

YEARS SAVED

$47,554

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,504

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5403$1,6004$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 515 Cascade Rise Court Sw Atlanta, GA 2
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.76
    •  
  • 100 Lost Springs Lane Sw Atlanta, GA 1
    • 3 beds 2 baths ∙ 2,172 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,172 Sqft ∙ Built 1990
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.69
    •  
  • 2040 Enon Mill Drive Sw Atlanta, GA 3
    • 3 beds 3 baths ∙ 2,170 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,170 Sqft ∙ Built 1994
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.74
    •  
  • 5281 Sw Lakerock Drive Sw Atlanta, GA 4
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2004
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 5293 Lakerock Drive Sw Atlanta, GA 5
    • 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 2004
    property image
    LEASED 07/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
PROPERTY LISTING DETAILS
Bernice Ward
1.404.569.2805
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6814935
Last Updated: 12/04/2020
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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