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5613 Pine Gate Drive Atlanta, GA 30349

3 Beds 2 Baths 1,152 sqft Built 1988

$169,999

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $147.57
  • 3 Days on Market
  • MLS # : 6828054
  • Updated Date : 01/15/2021 at 21:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,152 sqft
  • Baths : 2 full
Listing Agent's Description

This newly renovated 3 bedroom 2 bathroom house is a designer’s haven located 10 minutes from Atlanta Hartsfield Airport! It is equipped with a modern accent wall, shiplap fireplace, new paint, new light fixtures, new blinds and new flooring throughout the home. The kitchen features brand new stainless steel appliances, recessed lighting, granite countertops, a bar, & modern backsplash. There's also granite countertops in both bathrooms! The huge, fully fenced backyard with covered patio is perfect for entertaining guests! Come see this gem today, or regret it tomorrow!

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).
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 World’s Busiest Airport(Airports Council International, 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

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
West Clayton Elementary School Primary Regular 508 30 4
North Clayton Middle School Middle Regular 827 45 5
North Clayton High School High Regular 886 46 2

West Clayton Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 30
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
 

$152,999$186,999$169,999

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$590
Property Tax -$176
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$366

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.

$169,999

PROJECTED PRICE

$1,300

PROJECTED RENT

0.76%

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

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$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,500
Loan Amount $127,499
See What Happens When You Reinvest Cash Flow

13.25

YEARS SAVED

$36,594

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,300
$1,300
RENT COMPS ANALYSIS
  • 5613 Pine Gate Drive Atlanta, GA
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.13
    •  
PROPERTY LISTING DETAILS
Brittany Henton
1.770.362.6743
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828054
Last Updated: 01/15/2021
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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