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5191 Hanover Street Atlanta, GA 30349

3 Beds 3 Baths 1,750 sqft Built 2005

$155,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $88.57
  • 1 Days on Market
  • MLS # : 6837482
  • Updated Date : 02/06/2021 at 18:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,750 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Calling all investors! This tenanted, 3 bedroom, 2 1/2 bath, Section 8 home in Clayton county is leased until May 31st, 2021 and receives $995 monthly. Features an attached 2 car garage, a homey fireplace in the living room, and a patio! Showings during due diligence only. Blind offers only.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 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
Northcutt Elementary School Primary Regular 652 35 4
North Clayton Middle School Middle Regular 827 45 5
North Clayton High School High Regular 886 46 2

Northcutt Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 35
4
GreatSchools Rating

North Clayton Middle School

  • Education Level: Middle
  • # of students: 827
  • # of teachers: 45
5
GreatSchools Rating

North Clayton High School

  • Education Level: High
  • # of students: 886
  • # of teachers: 46
2
GreatSchools Rating
 

$139,500$170,500$155,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$538
Property Tax -$134
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$487

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.

$155,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.86%

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) 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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,825

INVESTMENT

$46,825

Down Payment
$38,750
Rehab Estimate
$5,750
Closing Costs
$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$538

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

16.17

YEARS SAVED

$42,085

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,365

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,3503$1,5004$1,695
$1,695
RENT COMPS ANALYSIS
  • 5191 Hanover Street Atlanta, GA 1
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.77
    •  
  • 2867 Two Lake Circle Atlanta, GA 2
    • 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2006
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.70
    •  
  • 5467 Northcut Drive Atlanta, GA 3
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1992
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
  • 1595 Danube Court Atlanta, GA 4
    • 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 2007
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
PROPERTY LISTING DETAILS
Buck Moore
1.931.683.9070
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837482
Last Updated: 02/06/2021
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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