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7634 Absinth Drive Atlanta, GA 30349

4 Beds 3 Baths 2,468 sqft Built 2015

$265,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $107.37
  • 3 Days on Market
  • MLS # : 6811547
  • Updated Date : 11/21/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,468 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful four bedroom, two and a half bath home located in well sought after South Fulton community of Palmetto Farms. This well maintained home has laminate flooring throughout downstairs and in the master bedroom. It has a nice size living room and separate formal dining room, spacious kitchen with beautiful cabinetry and breakfast nook. The cozy living room has a gas fireplace ready just in time for the winter weather. The owner’s suite is huge and has a nice sitting area. The master bath has a double vanity and a large walk-in closet. Nice size fenced in yard.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • 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)

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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$978
Property Tax -$295
Property Insurance -$75
HOA -$42
Property Management Fees -$119
CASH FLOW
$201

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.

$265,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.65%

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$24,868

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,771

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,634
1$1,6342$1,6903$1,7104$1,7955$2,000
$2,000
RENT COMPS ANALYSIS
  • 7634 Absinth Drive Atlanta, GA 3
    • 4 beds 3 baths ∙ 2,468 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,468 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.69
    •  
  • 2924 Chilhowee Drive Atlanta, GA 1
    • 3 beds 3 baths ∙ 2,151 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,151 Sqft ∙ Built 2005
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,634
    • $0.76
    •  
  • 314 Amhurst Parkway College Park, GA 2
    • 4 beds 2 baths ∙ 2,419 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,419 Sqft ∙ Built 2002
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.70
    •  
  • 7466 Hilltop Way Atlanta, GA 4
    • 4 beds 3 baths ∙ 2,771 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,771 Sqft ∙ Built 2003
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.65
    •  
  • 753 Hayes Court Atlanta, GA 5
    • 4 beds 4 baths ∙ 2,620 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,620 Sqft ∙ Built 2004
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
PROPERTY LISTING DETAILS
Jamelia Favors
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6811547
Last Updated: 11/21/2020
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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