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

700 Charles Bank Avenue Se Atlanta, GA 30312

3 Beds 4 Baths 1,958 sqft Built 2005

$415,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $211.95
  • 5 Days on Market
  • MLS # : 6833984
  • Updated Date : 02/05/2021 at 11:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,958 sqft
  • Baths : 2 full , 2 half
Listing Agent's Description

Don't miss your chance to live STEPS from everything!! Rare, End Unit with 2-Car Garage, this home is 1 of only 2 connected units, & lives like a single-family home. Cafe' by GE appliances, hardwoods throughout, high-end light fixture & tons of natural light. Large living space, bonus flex space off kitchen & outdoor deck. Oversized master suite w/additional sitting room and custom closet. Large secondary bedroom opens to spacious front balcony. Lower level bedroom/office, w/ half bath. Walking distance to re-developed Grant Park, Beltline, The Beacon & more!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Grant Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k359k

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

Neighborhood: Grant Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9732260

* 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
Parkside Elementary School Primary Regular 584 44 2
Martin Luther King, Jr. Middle School Middle Regular 680 61 3
Maynard Holbrook Jackson High School High Regular 1,022 72 4

Parkside Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 44
2
GreatSchools Rating

Martin Luther King, Jr. Middle School

  • Education Level: Middle
  • # of students: 680
  • # of teachers: 61
3
GreatSchools Rating

Maynard Holbrook Jackson High School

  • Education Level: High
  • # of students: 1,022
  • # of teachers: 72
4
GreatSchools Rating
 

$373,500$456,500$415,000

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 -$1,441
Property Tax -$481
Property Insurance -$65
HOA -$135
Property Management Fees -$119
CASH FLOW
-$102

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.

$415,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 9.0%
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$1.2M$1.4M

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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$10,927

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
  • $1.09

    LIST RENT PER SQFT
  • $2,399

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,1403$2,2504$2,4505$2,600
$2,600
RENT COMPS ANALYSIS
  • 700 Charles Bank Avenue Se Atlanta, GA 2
    • 3 beds 4 baths ∙ 1,958 Sqft ∙ Built 2005 3 beds 4 baths ∙ 1,958 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.09
    •  
  • 1186 Se Vickers Street Se Atlanta, GA 1
    • 4 beds 3 baths ∙ 1,676 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,676 Sqft ∙ Built 1988
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.07
    •  
  • 774 Woodson Street Se Atlanta, GA 3
    • 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2007
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.17
    •  
  • 313 Englewood Avenue Se Atlanta, GA 4
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2005
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.40
    •  
  • 605 Mead Street Se Atlanta, GA 5
    • 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 2007
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.26
    •  
PROPERTY LISTING DETAILS
The Perren Property Group
1.678.641.7925
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6833984
Last Updated: 02/05/2021
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.

BESbswy