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5213 Glenridge Drive Atlanta, GA 30342

3 Beds 4 Baths 2,412 sqft Built 1972

$410,000

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $169.98
  • 5 Days on Market
  • MLS # : 6824609
  • Updated Date : 01/07/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,412 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Stunning completely updated end unit all brick townhome with a fully finished basement and a huge 2 car custom garage. This home has designer finishes with granite countertops, gorgeous custom cabinetry, and stainless steel appliances. Kitchen has a walk in pantry and a view to family room. Hardwood floors have been installed throughout all three floors of this beautiful home. Huge owners suite with custom walk in closet with shelving, staircase recently refinished with wrought iron railing and two additional large bedrooms on the third floor.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Highpoint

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $113k583k

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

Neighborhood: Highpoint

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9732963

* 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
High Point Elementary School Primary Regular 794 58 4
Ridgeview Charter School Middle Charter 1,107 82 6
Riverwood High School High Charter 1,551 94 6

High Point Elementary School

  • Education Level: Primary
  • # of students: 794
  • # of teachers: 58
4
GreatSchools Rating

Ridgeview Charter School

  • Education Level: Middle
  • # of students: 1,107
  • # of teachers: 82
6
GreatSchools Rating

Riverwood High School

  • Education Level: High
  • # of students: 1,551
  • # of teachers: 94
6
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$1,424
Property Tax -$497
Property Insurance -$74
HOA -$476
Property Management Fees -$119
CASH FLOW
$120

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.

$410,000

PROJECTED PRICE

$2,710

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$21,576

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $3,310

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$2,710
1$2,7102$2,8003$3,1304$3,2005$3,675
$3,675
RENT COMPS ANALYSIS
  • 5213 Glenridge Drive Atlanta, GA 1
    • 3 beds 4 baths ∙ 2,412 Sqft ∙ Built 1972 3 beds 4 baths ∙ 2,412 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $1.12
    •  
  • 430 Elden Drive Atlanta, GA 2
    • 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 1962
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.24
    •  
  • 5105 High Point Road Sandy Springs, GA 3
    • 4 beds 5 baths ∙ 2,313 Sqft ∙ Built 1956 4 beds 5 baths ∙ 2,313 Sqft ∙ Built 1956
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,130
    • $1.35
    •  
  • 125 Inland Drive Atlanta, GA 4
    • 4 beds 3 baths ∙ 2,241 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,241 Sqft ∙ Built 1980
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.43
    •  
  • 465 Elden Drive Atlanta, GA 5
    • 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 1962
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,675
    • $1.47
    •  
PROPERTY LISTING DETAILS
Brandon Nunley
1.404.783.3311
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6824609
Last Updated: 01/07/2021
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. © 2017 First Multiple Listing Service, Inc.

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