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6777 Creekmoor Lane Riverdale, GA 30296

3 Beds 2 Baths 1,802 sqft Built 1973

$197,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $109.32
  • 8 Days on Market
  • MLS # : 6831785
  • Updated Date : 01/30/2021 at 13:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,802 sqft
  • Baths : 2 full
Listing Agent's Description

This Riverdale two-story cul-de-sac home offers a two-car garage. This home is vacant and cleaned regularly.

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MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Zip Code: 30296

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $71k209k

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

Zip Code: 30296

ZipNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7621509

* 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
Oliver Elementary School Primary Regular 632 34 3
Riverdale Middle School Middle Regular 708 42 4
North Clayton High School High Regular 886 46 2

Oliver Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 34
3
GreatSchools Rating

Riverdale Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 42
4
GreatSchools Rating

North Clayton High School

  • Education Level: High
  • # of students: 886
  • # of teachers: 46
2
GreatSchools Rating
 

$177,300$216,700$197,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$684
Property Tax -$260
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$214

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.

$197,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.3%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,955

INVESTMENT

$57,955

Down Payment
$49,250
Rehab Estimate
$5,750
Closing Costs
$2,955

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$684

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,250
Loan Amount $147,750
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$21,644

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,321

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,2523$1,3254$1,340
$1,340
RENT COMPS ANALYSIS
  • 6777 Creekmoor Lane Riverdale, GA 4
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.74
    •  
  • 1561 Sultan Lane Riverdale, GA 1
    • 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 1973
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.80
    •  
  • 1230 Pineglen Drive Riverdale, GA 2
    • 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 1962
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,252
    • $0.72
    •  
  • 1592 Envoy Place Riverdale, GA 3
    • 3 beds 2 baths ∙ 1,955 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,955 Sqft ∙ Built 1973
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.68
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831785
Last Updated: 01/30/2021
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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