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857 Orris Lane Sw Mableton, GA 30126

3 Beds 2 Baths 1,236 sqft Built 1962

$218,500

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $176.78
  • 2 Days on Market
  • MLS # : 6853412
  • Updated Date : 03/13/2021 at 18:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,236 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Turn around and bring your client to this move in ready four side brick ranch on a corner lot w/ 3 bedrooms 1.5 baths, NEW ROOF, main bath have been renovated, entire house have painted with new appliances in place. Granite counter top and hardwood floors, Kitchen is spacious w/ open concept, w/ access to bonus room with fireplace & laundry room. Lot is fenced where kids can play & you can relax seeing the sunset & enjoy your cook outs w/ family & friends, has two separate side gates, workshop and or garage. Wallace park is @ 5 min walking & shopping centers around it!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Clayberg Manor

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $51k231k

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

Neighborhood: Clayberg Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6781561

* 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
Clay Elementary School Primary Regular 384 33 4
Lindley Middle School Middle Regular 1,166 65 4
Pebblebrook High School High Regular 2,289 120 3

Clay Elementary School

  • Education Level: Primary
  • # of students: 384
  • # of teachers: 33
4
GreatSchools Rating

Lindley Middle School

  • Education Level: Middle
  • # of students: 1,166
  • # of teachers: 65
4
GreatSchools Rating

Pebblebrook High School

  • Education Level: High
  • # of students: 2,289
  • # of teachers: 120
3
GreatSchools Rating
 

$196,650$240,350$218,500

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$759
Property Tax -$193
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$22

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.

$218,500

PROJECTED PRICE

$1,100

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.9%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,653

INVESTMENT

$63,653

Down Payment
$54,625
Rehab Estimate
$5,750
Closing Costs
$3,278

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$759

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,625
Loan Amount $163,875
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$5,770

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,112

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,1003$1,2754$1,300
$1,300
RENT COMPS ANALYSIS
  • 857 Orris Lane Sw Mableton, GA 2
    • 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.89
    •  
  • 290 Stroud Drive Se Mableton, GA 1
    • 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1958
    property image
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.89
    •  
  • 6717 Rioca Circle Se Mableton, GA 3
    • 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1969
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.89
    •  
  • 6111 Thunderwood Road Sw Mableton, GA 4
    • 3 beds 3 baths ∙ 1,411 Sqft ∙ Built 1961 3 beds 3 baths ∙ 1,411 Sqft ∙ Built 1961
    property image
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
PROPERTY LISTING DETAILS
Enemesio Hernandez
1.404.451.7172
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6853412
Last Updated: 03/13/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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