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85 Mayson Avenue Ne #B Atlanta, GA 30307

4 Beds 4 Baths 2,063 sqft Built 2020

$464,900

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $225.35
  • 32 Days on Market
  • MLS # : 6804541
  • Updated Date : 12/03/2020 at 07:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,063 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Beautiful brand new construction in the heart of Edgewood! Gated! Hardwood floors throughout main area and carpet in the bedrooms. The kitchen is immaculate with a large granite island perfect for entertainment. Walk-in pantry. Barn door to your master bath where you have a HUGE shower with 2 shower heads. Laundry upstairs. Lots of natural light. Covered front and side porch. Stainless Steel appliances will be installed prior to closing. Easy access to the future Trolley Trail and BeltLine. Please remove shoes or use shoe coverings.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Edgewood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $103k311k

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

Neighborhood: Edgewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9731842

* 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
Fred Armon Toomer Elementary School Primary Regular 343 31 3
Martin Luther King, Jr. Middle School Middle Regular 680 61 3
Maynard Holbrook Jackson High School High Regular 1,022 72 4

Fred Armon Toomer Elementary School

  • Education Level: Primary
  • # of students: 343
  • # of teachers: 31
3
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
 

$418,410$511,390$464,900

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,715
Property Tax -$578
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$50

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$464,900

PROJECTED PRICE

$2,430

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 13.6%
Maintenance Year (1-5) 3.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,199

INVESTMENT

$125,199

Down Payment
$116,225
Rehab Estimate
$2,000
Closing Costs
$6,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,715

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,225
Loan Amount $348,675
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$18,111

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,883

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4303$2,7004$2,9005$3,350
$3,350
RENT COMPS ANALYSIS
  • 85 Mayson Avenue Ne Atlanta, GA 2
    • 4 beds 4 baths ∙ 2,063 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,063 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $1.18
    •  
  • 1440 Hardee Street Ne Atlanta, GA 1
    • 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 2002
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.39
    •  
  • 20 Mayson Avenue Ne Atlanta, GA 3
    • 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 2003
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.39
    •  
  • 1237 Arkwright Place Se Atlanta, GA 4
    • 4 beds 4 baths ∙ 2,197 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,197 Sqft ∙ Built 2007
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.32
    •  
  • 1560 New Street Ne Atlanta, GA 5
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2019
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.49
    •  
PROPERTY LISTING DETAILS
Daniel Cardona
1.404.438.0114
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6804541
Last Updated: 12/03/2020
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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