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64 River Park Drive Sandy Springs, GA 30328

4 Beds 3 Baths 1,978 sqft Built 1978

$475,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $240.14
  • 4 Days on Market
  • MLS # : 6859890
  • Updated Date : 03/26/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,978 sqft
  • Baths : 3 full
Listing Agent's Description

[Agents: Please see private agent remarks about showing and offers BEFORE calling the listing agent.] This is a fantastic opportunity for a Flipper or a Builder. The area supports prices well into the millions. Situated on almost ONE FULL acre, this rectangular lot has 116' of frontage and is 320' deep!!...That's plenty of room to add-on a master suite, expand the footprint, or knock down and build a mansion. Located in the sought after Riverside Estates n'hood. You'll love living in the heart of the Sandy Springs Park District. Privacy abounds for you to create the

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)
  • #1 Most affordable big city (WalletHub, 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)
  • 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 has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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: Sandy Springs

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $113k519k

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

Neighborhood: Sandy Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200Rent in $9733395

* 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
Spalding Drive Charter Elementary School Primary Charter 472 31 7
Sandy Springs Charter School Middle Charter 920 69 5
North Springs High School High Charter 1,653 97 7

Spalding Drive Charter Elementary School

  • Education Level: Primary
  • # of students: 472
  • # of teachers: 31
7
GreatSchools Rating

Sandy Springs Charter School

  • Education Level: Middle
  • # of students: 920
  • # of teachers: 69
5
GreatSchools Rating

North Springs High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 97
7
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,650
Property Tax -$488
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$142

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.

$475,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 1.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
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-$5.0k$0.0$5.0k$10k$15k

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$13,221

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,136

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9003$2,0004$2,1805$2,200
$2,200
RENT COMPS ANALYSIS
  • 64 River Park Drive Sandy Springs, GA 4
    • 4 beds 3 baths ∙ 1,978 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,978 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.10
    •  
  • 5360 Tall Oak Drive Marietta, GA 1
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1972
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 5244 Tall Oak Drive Marietta, GA 2
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1974
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.09
    •  
  • 7235 Thornhill Lane Sandy Springs, GA 3
    • 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 1966
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.09
    •  
  • 415 Amberidge Trail Sandy Springs, GA 5
    • 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 1960
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.17
    •  
PROPERTY LISTING DETAILS
R Todd Roseberry
1.404.664.8633
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6859890
Last Updated: 03/26/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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