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515 Tahoma Drive Sandy Springs, GA 30350

4 Beds 3 Baths 2,732 sqft Built 1986

$475,000

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $173.87
  • 2 Days on Market
  • MLS # : 6840150
  • Updated Date : 02/13/2021 at 21:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,732 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful renovated traditional in ideal Sandy Springs location. Bright and open floorplan featuring hardwoods throughout, updated kitchen with new island open to fireside family room, separate living room and dining room. Walk-out private backyard with oversized deck perfect for family and entertaining. 4 bedrooms up including master suite with gorgeous new master bath featuring custom tub, separate shower and double vanities. 4th bedroom/bonus room with built-ins would make and ideal office or media room.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Overton Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $103k519k

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

Neighborhood: Overton Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200Rent in $9733395

* 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
Ison Springs Elementary School Primary Regular 788 52 5
Sandy Springs Charter School Middle Charter 920 69 5
North Springs High School High Charter 1,653 97 7

Ison Springs Elementary School

  • Education Level: Primary
  • # of students: 788
  • # of teachers: 52
5
GreatSchools Rating

Sandy Springs Charter School

  • Education Level: Middle
  • # of students: 920
  • # of teachers: 69
5
GreatSchools Rating

North Springs High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 97
7
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$1,650
Property Tax -$438
Property Insurance -$80
HOA -$10
Property Management Fees -$119
CASH FLOW
$482

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$475,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 3.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$65,963

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,951

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,7503$2,7804$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 515 Tahoma Drive Sandy Springs, GA 3
    • 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $1.02
    •  
  • 5636 Roberts Drive Dunwoody, GA 1
    • 4 beds 3 baths ∙ 2,737 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,737 Sqft ∙ Built 1967
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.00
    •  
  • 996 Pitts Road Atlanta, GA 2
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 2001
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.08
    •  
  • 1029 Coronation Drive Dunwoody, GA 4
    • 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 1970
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.17
    •  
  • 1159 Aurora Court Atlanta, GA 5
    • 5 beds 4 baths ∙ 2,805 Sqft ∙ Built 1973 5 beds 4 baths ∙ 2,805 Sqft ∙ Built 1973
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.07
    •  
PROPERTY LISTING DETAILS
The Anderson Group
1.404.277.9581
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6840150
Last Updated: 02/13/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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