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599 Lyric Way Nw Atlanta, GA 30318

3 Beds 3 Baths 1,404 sqft Built 1961

$315,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $224.36
  • 6 Days on Market
  • MLS # : 6821720
  • Updated Date : 12/30/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,404 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Newly renovated ranch home on a finished basement!! This cozy home offers a family room open to the dining room, updated kitchen and three bedrooms. The finished basement opens up to a large family room/game room with brick wood burning fireplace, bonus room, which could be used as a bedroom with a walk-in closet, a full bathroom and a half bathroom. A must see. ******Showings will begin Friday, January 1st*****

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Collier Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $64k235k

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

Neighborhood: Collier Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5031714

* 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
Usher-collier Hieghts Elementary School Primary Regular 436 31 3
Charles Lincoln Harper - Samuel Howard Archer Middle School Middle Regular 667 46 1
Frederick Douglass High School High Regular 826 66 2

Usher-collier Hieghts Elementary School

  • Education Level: Primary
  • # of students: 436
  • # of teachers: 31
3
GreatSchools Rating

Charles Lincoln Harper - Samuel Howard Archer Middle School

  • Education Level: Middle
  • # of students: 667
  • # of teachers: 46
1
GreatSchools Rating

Frederick Douglass High School

  • Education Level: High
  • # of students: 826
  • # of teachers: 66
2
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,162
Property Tax -$365
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$191

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.

$315,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) -1.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,299

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,516

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5103$1,5104$1,5955$1,675
$1,675
RENT COMPS ANALYSIS
  • 599 Lyric Way Nw Atlanta, GA 3
    • 3 beds 4 baths ∙ 1,404 Sqft ∙ Built 1961 3 beds 4 baths ∙ 1,404 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.08
    •  
  • 2702 Loghaven Drive Nw Atlanta, GA 1
    • 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1955
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.01
    •  
  • 80 Harlan Road Atlanta, GA 2
    • 4 beds 2 baths ∙ 1,360 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,360 Sqft ∙ Built 1950
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.11
    •  
  • 3102 W Peek Road Nw Atlanta, GA 4
    • 4 beds 2 baths ∙ 1,566 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,566 Sqft ∙ Built 1963
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 2631 Santa Barbara Drive Atlanta, GA 5
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1955
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.18
    •  
PROPERTY LISTING DETAILS
Tesh Liburd
1.404.434.5237
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6821720
Last Updated: 12/30/2020
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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