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7681 Commerce Court Riverdale, GA 30296

3 Beds 3 Baths 1,530 sqft Built 2006

$135,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $88.24
  • 7 Days on Market
  • MLS # : 6821666
  • Updated Date : 01/05/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,530 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This Riverdale home has two stories. This home is vacant and cleaned regularly.

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 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
Lake Ridge Elementary School Primary Regular 729 43 3
Kendrick Middle School Middle Regular 761 50 4
Riverdale High School High Regular 1,392 68 3

Lake Ridge Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 43
3
GreatSchools Rating

Kendrick Middle School

  • Education Level: Middle
  • # of students: 761
  • # of teachers: 50
4
GreatSchools Rating

Riverdale High School

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

$121,500$148,500$135,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$469
Property Tax -$179
Property Insurance -$57
HOA -$72
Property Management Fees -$119
CASH FLOW
$375

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.

$135,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.94%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$41,525

INVESTMENT

$41,525

Down Payment
$33,750
Rehab Estimate
$5,750
Closing Costs
$2,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$469

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $33,750
Loan Amount $101,250
See What Happens When You Reinvest Cash Flow

14.33

YEARS SAVED

$32,313

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,209

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3003$1,335
$1,335
RENT COMPS ANALYSIS
  • 7681 Commerce Court Riverdale, GA 1
    • 3 beds 3 baths ∙ 1,530 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,530 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.83
    •  
  • 109 Birch Chase Riverdale, GA 2
    • 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 2000
    property image
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.80
    •  
  • 7989 Bridlewood Way Riverdale, GA 3
    • 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 2003
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,335
    • $0.78
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6821666
Last Updated: 01/05/2021
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. © 2017 First Multiple Listing Service, Inc.

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