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859 Kings Grant Drive Nw Atlanta, GA 30318

4 Beds 2 Baths 1,125 sqft Built 1963

$255,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $226.67
  • 7 Days on Market
  • MLS # : 6824044
  • Updated Date : 01/06/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,125 sqft
  • Baths : 2 full
Listing Agent's Description

Get in while you can. Quiet street near the new Grove Park Echo Development & West Beltline. Welcome Home! Beautifully, completely renovated home in Collier Heights! Brand new Deck, HVAC, new plumbing and Stainless Steel Appliances and much more. This split level home boosts a gorgeous fully marbled bathroom with a free standing tub and brand new shower. Original hardwood floors newly refinished. Open & Spacious living room and dining area. New kitchen with brand new quartz island and countertops with white shaker cabinets with a glass tile backsplash. Come see today.

SEE MORE

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

Neighborhood: Collier Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $64k235k

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

Neighborhood: Collier Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5031714

* 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
Usher-collier Hieghts Elementary School Primary Regular 436 31 3
Charles Lincoln Harper - Samuel Howard Archer Middle School Middle Regular 667 46 1
Frederick Douglass High School High Regular 826 66 2

Usher-collier Hieghts Elementary School

  • Education Level: Primary
  • # of students: 436
  • # of teachers: 31
3
GreatSchools Rating

Charles Lincoln Harper - Samuel Howard Archer Middle School

  • Education Level: Middle
  • # of students: 667
  • # of teachers: 46
1
GreatSchools Rating

Frederick Douglass High School

  • Education Level: High
  • # of students: 826
  • # of teachers: 66
2
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$886
Property Tax -$296
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$151

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.

$255,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) -1.4%
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$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$17,675

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $1,502

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,4253$1,4954$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 859 Kings Grant Drive Nw Atlanta, GA 5
    • 4 beds 2 baths ∙ 1,125 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,125 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.33
    •  
  • 801 Vanderbilt Court Nw Atlanta, GA 1
    • 5 beds 4 baths ∙ 1,042 Sqft ∙ Built 1960 5 beds 4 baths ∙ 1,042 Sqft ∙ Built 1960
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.15
    •  
  • 2600 Baker Road Nw Atlanta, GA 2
    • 3 beds 2 baths ∙ 1,135 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,135 Sqft ∙ Built 1955
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.26
    •  
  • 815 Magna Carta Drive Nw Atlanta, GA 3
    • 3 beds 3 baths ∙ 1,000 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,000 Sqft ∙ Built 1964
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.50
    •  
  • 872 Harwell Road Nw Atlanta, GA 4
    • 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1959
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.43
    •  
PROPERTY LISTING DETAILS
Tiffani Singleton
1.404.637.9716
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6824044
Last Updated: 01/06/2021
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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