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7257 Demeter Drive Atlanta, GA 30349

4 Beds 4 Baths 2,860 sqft Built 2017

$305,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2017
  • Price/Sqft : $106.64
  • 11 Days on Market
  • MLS # : 6801868
  • Updated Date : 11/07/2020 at 15:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,860 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Welcome to this like new 3 years old home. Beautiful 4 Bedroom, 3.5 Bath, 2 Car Gar in Swim and Tennis Community off of Butner Rd. Gourmet Kitchen w/SS appliances, 42" Cabinets, Granite Countertops, Backsplash, Moen Faucet, Island, canned lighting open to Breakfast Area. Large Family Room w/corner Fireplace. Separate Formal Living Room and Formal Dining Room. Open Rail pickets & 5" Hardwoods on main. Owners' Suite w/Trey Ceiling, Walk-in closet & Deluxe Bath w/5' soaker Tub & 5' tile Shower. Spacious bedrooms and Loft Upstairs as a bonus.

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: 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
Cliftondale Elementary School Primary Regular 884 52 5
Renaissance Middle School Middle Regular 1,208 83 3
Langston Hughes High School High Regular 1,890 105 3

Cliftondale Elementary School

  • Education Level: Primary
  • # of students: 884
  • # of teachers: 52
5
GreatSchools Rating

Renaissance Middle School

  • Education Level: Middle
  • # of students: 1,208
  • # of teachers: 83
3
GreatSchools Rating

Langston Hughes High School

  • Education Level: High
  • # of students: 1,890
  • # of teachers: 105
3
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,125
Property Tax -$340
Property Insurance -$82
HOA -$110
Property Management Fees -$119
CASH FLOW
$143

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.

$305,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.63%

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-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$19,428

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,909

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9203$1,9504$1,9655$2,000
$2,000
RENT COMPS ANALYSIS
  • 7257 Demeter Drive Atlanta, GA 2
    • 4 beds 4 baths ∙ 2,860 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,860 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.67
    •  
  • 3867 Oakman Place Fairburn, GA 1
    • 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2004
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.64
    •  
  • 7605 Cole Lane Atlanta, GA 3
    • 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2003
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.69
    •  
  • 3912 Margaux Drive Atlanta, GA 4
    • 5 beds 3 baths ∙ 2,969 Sqft ∙ Built 2009 5 beds 3 baths ∙ 2,969 Sqft ∙ Built 2009
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,965
    • $0.66
    •  
  • 275 Lawrence Place Atlanta, GA 5
    • 4 beds 4 baths ∙ 2,936 Sqft ∙ Built 2001 4 beds 4 baths ∙ 2,936 Sqft ∙ Built 2001
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.68
    •  
PROPERTY LISTING DETAILS
Ibn Mathurin
1.678.521.2248
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6801868
Last Updated: 11/07/2020
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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