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6015 Tate Drive Austell, GA 30106

4 Beds 3 Baths 2,000 sqft Built 2002

$225,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $112.50
  • 5 Days on Market
  • MLS # : 6802809
  • Updated Date : 10/31/2020 at 14:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,000 sqft
  • Baths : 3 full
Listing Agent's Description

Calling all Buyers! Traditional 4B/3B multi level corner lot home. Covered rocking chair front porch and back deck for outdoor BBQs. Fireside family room, separate dining room, open kitchen w/breakfast room. Split level plan features family den, guest bedroom, full bath and laundry. Upstairs features master bedroom with double vanities, sep tub & shower and vaulted ceilings. Split bedroom plan offers 2 secondary rooms with share full bath. Must see!!

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Heritage Place

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $87k209k

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

Neighborhood: Heritage Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9211509

* 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
Hendricks Elementary School Primary Unknown 534 41 4
Garrett Middle School Middle Regular 831 51 5
South Cobb High School High Regular 2,074 106 4

Hendricks Elementary School

  • Education Level: Primary
  • # of students: 534
  • # of teachers: 41
4
GreatSchools Rating

Garrett Middle School

  • Education Level: Middle
  • # of students: 831
  • # of teachers: 51
5
GreatSchools Rating

South Cobb High School

  • Education Level: High
  • # of students: 2,074
  • # of teachers: 106
4
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$830
Property Tax -$206
Property Insurance -$66
HOA -$23
Property Management Fees -$119
CASH FLOW
$336

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.

$225,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

11.58

YEARS SAVED

$47,451

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,813

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,6003$1,7554$1,850
$1,850
RENT COMPS ANALYSIS
  • 6015 Tate Drive Austell, GA 1
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.79
    •  
  • 3345 Slate Drive Austell, GA 2
    • 4 beds 3 baths ∙ 1,685 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,685 Sqft ∙ Built 2000
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 4040 Brookfield Way Austell, GA 3
    • 4 beds 3 baths ∙ 2,083 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,083 Sqft ∙ Built 2001
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,755
    • $0.84
    •  
  • 5756 Newnan Circle Austell, GA 4
    • 4 beds 3 baths ∙ 1,993 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,993 Sqft ∙ Built 2003
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
PROPERTY LISTING DETAILS
Shirley Wagner
1.404.654.0676
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6802809
Last Updated: 10/31/2020
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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