Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6289 Vinings Vintage Drive Mableton, GA 30126

5 Beds 4 Baths 2,484 sqft Built 2003

$350,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $140.90
  • 6 Days on Market
  • MLS # : 6802627
  • Updated Date : 10/31/2020 at 08:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,484 sqft
  • Baths : 4 full
Listing Agent's Description

Meticulously maintained 3 story home in the sought after Vinings Vintage neighborhood. This private lot is close to shopping centers and Accessible to I-285 and Airport. It offers an open concept with a bedroom on the main. Upstairs has an oversized master bedroom with a jacuzzi tub, spacious jack & jill bedrooms. The basement is finished with a bedroom, office, workout/kitchenette and multi-level theatre room. Large leveled back yard with deck, that overlooks backyard and community clubhouse, tennis courts, and pool, perfect for entertaining.

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: Vinings Vintage

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $103k301k

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

Neighborhood: Vinings Vintage

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732072

* 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
Harmony-leland Elementary School Primary Regular 707 48 6
Lindley Middle School Middle Regular 1,166 65 4
Pebblebrook High School High Regular 2,289 120 3

Harmony-leland Elementary School

  • Education Level: Primary
  • # of students: 707
  • # of teachers: 48
6
GreatSchools Rating

Lindley Middle School

  • Education Level: Middle
  • # of students: 1,166
  • # of teachers: 65
4
GreatSchools Rating

Pebblebrook High School

  • Education Level: High
  • # of students: 2,289
  • # of teachers: 120
3
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,291
Property Tax -$309
Property Insurance -$75
HOA -$64
Property Management Fees -$119
CASH FLOW
$281

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.

$350,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 5.8%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$45,101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,074

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,945
1$1,9452$1,9953$2,0004$2,1405$2,300
$2,300
RENT COMPS ANALYSIS
  • 6289 Vinings Vintage Drive Mableton, GA 4
    • 5 beds 4 baths ∙ 2,484 Sqft ∙ Built 2003 5 beds 4 baths ∙ 2,484 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.86
    •  
  • 6285 Allen Road Sw Mableton, GA 1
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2014
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.85
    •  
  • 6112 Vintage Pointe Place Mableton, GA 2
    • 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2003
    property image
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 6108 Vintage Pointe Place Mableton, GA 3
    • 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 2003
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
  • 339 Vinings Vintage Circle Mableton, GA 5
    • 5 beds 3 baths ∙ 2,625 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,625 Sqft ∙ Built 2006
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.88
    •  
PROPERTY LISTING DETAILS
Lauren Langhorne
1.404.723.8512
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6802627
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.

BESbswy