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6551 Splitpine Court Atlanta, GA 30349

4 Beds 3 Baths 2,370 sqft Built 2014

$245,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $103.38
  • 6 Days on Market
  • MLS # : 6837932
  • Updated Date : 03/01/2021 at 13:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,370 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

You don’t want to miss this beautiful traditional 2 story home just off of old national highway! This home boasts a beautiful open concept with upgraded hardwood floors. The Island in kitchen looks into the family room at the beautiful working fireplace. Spacious office downstairs with french doors. Upstairs has a beautiful loft area in addition to the owners suite and two additional bedrooms. This one won’t last!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)

PRICE & RENT TRENDS

Zip Code: 30349

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $82k235k

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

Zip Code: 30349

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8171714

* 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
Love T. Nolan Elementary School Primary Regular 744 48 3
Ronald E. Mcnair Middle School Middle Regular 823 61 3
Creekside High School High Regular 1,635 86 4

Love T. Nolan Elementary School

  • Education Level: Primary
  • # of students: 744
  • # of teachers: 48
3
GreatSchools Rating

Ronald E. Mcnair Middle School

  • Education Level: Middle
  • # of students: 823
  • # of teachers: 61
3
GreatSchools Rating

Creekside High School

  • Education Level: High
  • # of students: 1,635
  • # of teachers: 86
4
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$851
Property Tax -$273
Property Insurance -$73
HOA -$68
Property Management Fees -$119
CASH FLOW
$306

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.

$245,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$31,294

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,766

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,6903$1,850
$1,850
RENT COMPS ANALYSIS
  • 6551 Splitpine Atlanta, GA 2
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.71
    •  
  • 2020 Surrey Trail Atlanta, GA 1
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 1995
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.65
    •  
  • 5225 Willow Park Boulevard Atlanta, GA 3
    • 5 beds 4 baths ∙ 2,214 Sqft ∙ Built 1999 5 beds 4 baths ∙ 2,214 Sqft ∙ Built 1999
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
PROPERTY LISTING DETAILS
Adrienne Sherwood
1.404.578.0483
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837932
Last Updated: 03/01/2021
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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