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7243 Ginger Court Riverdale, GA 30296

3 Beds 2 Baths 1,564 sqft Built 1985

INVESTimate

$159,900

List Price

$1,160

$1,044 - $1,276

Rent Est.

$174,803  ( +9.32%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $102.24
  • 1 Days on Market
  • MLS # : 6772269
  • Updated Date : 08/25/2020 at 23:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,564 sqft
  • Baths : 2 full
Listing Agent's Description

Great investment property with tenant occupied with lease renewed through August 2021. This home is a cozy 3br, 2 ba ranch with great room, fireplace, master bedroom includes master bath en suite, and 2 car garage with extended driveway space for additional parking. Nice sized deck off dining room overlooking backyard. Property is located near shopping, with convenient access to highways, airport, and downtown Atlanta.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 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
Church Street Elementary School Primary Regular 970 47 4
Riverdale Middle School Middle Regular 708 42 4
Riverdale High School High Regular 1,392 68 3

Church Street Elementary School

  • Education Level: Primary
  • # of students: 970
  • # of teachers: 47
4
GreatSchools Rating

Riverdale Middle School

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

Riverdale High School

  • Education Level: High
  • # of students: 1,392
  • # of teachers: 68
3
GreatSchools Rating
 

$143,910$175,890$159,900

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$590
Property Tax -$211
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$182

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.

$159,900

PROJECTED PRICE

$1,160

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.32%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,124

INVESTMENT

$48,124

Down Payment
$39,975
Rehab Estimate
$5,750
Closing Costs
$2,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $39,975
Loan Amount $119,925
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$21,095

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,230

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,125
1$1,1252$1,1603$1,1814$1,225
$1,225
RENT COMPS ANALYSIS
  • 7243 Ginger Court Riverdale, 2
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $0.74
    •  
  • 7272 Indian Hill Trail Riverdale, 1
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1983
    property image
    LEASED 03/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $0.79
    •  
  • 617 Roxbury Drive Riverdale, 3
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1966
    property image
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,181
    • $0.77
    •  
  • 1561 Sultan Lane Riverdale, 4
    • 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 1973
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.80
    •  
PROPERTY LISTING DETAILS
Artrice Love
1.470.330.1399
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6772269
Last Updated: 08/25/2020
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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