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6398 Edgewater Cove Fairburn, GA 30213

5 Beds 3 Baths 2,824 sqft Built 2002

$275,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $97.38
  • 3 Days on Market
  • MLS # : 6815854
  • Updated Date : 12/05/2020 at 11:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,824 sqft
  • Baths : 3 full
Listing Agent's Description

Immaculate 5 bedroom home offering the space and freedom your family deserves! The bright and versatile floorplan features beautiful vinyl plank flooring, a two-story entrance foyer, and tons of vast windows throughout, providing a welcoming atmosphere that's perfect for entertaining any occasion. Cozy up to the gas fireplace in the family room with coffered ceilings, ideal for relaxing and binge-watching your favorite shows. Cook up delectable meals with ease in the stunning kitchen boasting granite counter tops, breakfast bar, and all stainless steal appliances.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30213

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30213

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171521

* 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
Renaissance Elementary School Primary Regular 765 51 4
Renaissance Middle School Middle Regular 1,208 83 3
Langston Hughes High School High Regular 1,890 105 3

Renaissance Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 51
4
GreatSchools Rating

Renaissance Middle School

  • Education Level: Middle
  • # of students: 1,208
  • # of teachers: 83
3
GreatSchools Rating

Langston Hughes High School

  • Education Level: High
  • # of students: 1,890
  • # of teachers: 105
3
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,015
Property Tax -$307
Property Insurance -$82
HOA -$67
Property Management Fees -$119
CASH FLOW
$232

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.

$275,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.6%
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$200k$400k$600k$800k$1.0M

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$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$27,638

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,596

    COMP ESTIMATED VALUE
  • $0.57

    COMP AVG. RENT PER SQFT
Comps Range
$1,715
1$1,7152$1,8003$1,820
$1,820
RENT COMPS ANALYSIS
  • 6398 Edgewater Cove Fairburn, GA 3
    • 5 beds 3 baths ∙ 2,824 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,824 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.64
    •  
  • 648 Assolas Court Fairburn, GA 1
    • 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2008
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,715
    • $0.56
    •  
  • 7673 Overlook Bend Fairburn, GA 2
    • 5 beds 3 baths ∙ 3,168 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,168 Sqft ∙ Built 2004
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.57
    •  
PROPERTY LISTING DETAILS
Sharla Lowell
1.248.790.3635
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815854
Last Updated: 12/05/2020
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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