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535 Pierpoint Drive Atlanta, GA 30331

4 Beds 3 Baths 2,934 sqft Built 2010

$314,499

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $107.19
  • 5 Days on Market
  • MLS # : 6830292
  • Updated Date : 01/22/2021 at 17:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,934 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Lease Purchase opportunity or special financing opportunity in the Westlake School district. Hardwoods throughout the main, unfinished basement, and MASSIVE master bedroom. This will not last long! Text ATLOPEN to 59559 for covid friendly showing instructions.

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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: 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
Stonewall Tell Elementary School Primary Regular 1,120 63 7
Sandtown Middle School Middle Regular 1,168 80 3
Westlake High School High Regular 2,023 116 6

Stonewall Tell Elementary School

  • Education Level: Primary
  • # of students: 1,120
  • # of teachers: 63
7
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
 

$283,049$345,949$314,499

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,092
Property Tax -$351
Property Insurance -$84
HOA -$42
Property Management Fees -$119
CASH FLOW
$33

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.

$314,499

PROJECTED PRICE

$1,720

PROJECTED RENT

0.55%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$89,092

INVESTMENT

$89,092

Down Payment
$78,625
Rehab Estimate
$5,750
Closing Costs
$4,717

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,092

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,625
Loan Amount $235,874
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$9,850

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $1,878

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,7853$1,8004$1,8255$1,999
$1,999
RENT COMPS ANALYSIS
  • 535 Pierpoint Drive Atlanta, GA 1
    • 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.59
    •  
  • 6483 Stonelake Place Atlanta, GA 2
    • 5 beds 3 baths ∙ 2,624 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,624 Sqft ∙ Built 2005
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.68
    •  
  • 6399 Tell Place Sw Atlanta, GA 3
    • 4 beds 3 baths ∙ 3,079 Sqft ∙ Built 2009 4 beds 3 baths ∙ 3,079 Sqft ∙ Built 2009
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.58
    •  
  • 430 Brookford Court Atlanta, GA 4
    • 3 beds 3 baths ∙ 2,856 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,856 Sqft ∙ Built 2007
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.64
    •  
  • 2785 Sw Stonewall Lane Atlanta, GA 5
    • 5 beds 3 baths ∙ 3,022 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,022 Sqft ∙ Built 2004
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.66
    •  
PROPERTY LISTING DETAILS
Robert Allen
1.404.539.0393
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6830292
Last Updated: 01/22/2021
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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