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626 Nw English Avenue Nw Atlanta, GA 30318

4 Beds 3 Baths 1,152 sqft Built 2004

INVESTimate

$259,000

List Price

$1,470

$1,323 - $1,617

Rent Est.

$263,662  ( +1.80%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $224.83
  • 6 Days on Market
  • MLS # : 6770435
  • Updated Date : 08/25/2020 at 13:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,152 sqft
  • Baths : 3 full
Listing Agent's Description

Hot property in hot area! Located in the heart of Atlanta, minutes away from downtown, Georgia Tech, Mercedes Benz Stadium and more! Spacious home has a private, leveled and fenced back yard. Large master bedroom with garden soaker tub and walk in closet. Open eat in kitchen with breakfast bar. Freshly painted. Sold As-is.

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: English Avenue

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $51k235k

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

Neighborhood: English Avenue

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5091714

* 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
Michael R. Hollis Innovation Academy Primary Regular NA
Joseph Emerson Brown Middle School Middle Regular 685 42 2
Booker T Washington High School High Regular 835 63 3

Michael R. Hollis Innovation Academy

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Joseph Emerson Brown Middle School

  • Education Level: Middle
  • # of students: 685
  • # of teachers: 42
2
GreatSchools Rating

Booker T Washington High School

  • Education Level: High
  • # of students: 835
  • # of teachers: 63
3
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$956
Property Tax -$300
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$46

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.

$259,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 1.80%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$12,513

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $1,630

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4703$2,070
$2,070
RENT COMPS ANALYSIS
  • 626 Nw English Avenue Nw Atlanta, 2
    • 4 beds 3 baths ∙ 1,152 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,152 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.28
    •  
  • 786 Francis Place Nw Atlanta, 1
    • 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 2003
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.98
    •  
  • 980 Tilden Street Nw Atlanta, 3
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 2000
    property image
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.85
    •  
PROPERTY LISTING DETAILS
Joyce Gardner
1.770.274.9588
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770435
Last Updated: 08/25/2020
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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