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PROPERTY INFO
FACTS
- Single Family
- Built In 1970
- Price/Sqft : $87.66
- 3 Days on Market
- MLS # : 6842681
- Updated Date : 02/20/2021 at 08:00
CONSTRUCTION
- Beds : 4
- Floor Size : 1,540 sqft
- Baths : 2 full
Listing Agent's Description
This home has a lot of potential and plenty of space. Great opportunity for an investor or first time home buyer.
SEE MORE
- 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
Zip Code: 30238
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 30238
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,040 |
| EXPENSES | Loan Payment | -$469 |
| Property Tax | -$147 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$248
|
||
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
$1,040
PROJECTED RENT
0.77%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.05% |
| Appreciation Year (1-5) | 6.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.60% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$41,525
LOAN DETAILS
$469
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $33,750 |
| Loan Amount | $101,250 |
11.75
YEARS SAVED
$25,046
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,040
LIST RENT -
$0.68
LIST RENT PER SQFT
-
$1,047
COMP ESTIMATED VALUE -
$0.68
COMP AVG. RENT PER SQFT
Comps Range
-
8908 Channing Drive Jonesboro, GA 2
- 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 1970
![property image]()
- Rent
- Rent Per SQFT
- $1,040
- $0.68
-
217 Bellwood Lane Riverdale, GA 1
- 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1973
![property image]()
LEASED 12/09/19- Rent
- Rent Per SQFT
- $1,000
- $0.66
-
782 Jeb Stuart Drive Jonesboro, GA 3
- 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 1964
![property image]()
LEASED 11/20/20- Rent
- Rent Per SQFT
- $1,300
- $0.70
PROPERTY LISTING DETAILS
1.770.886.9000
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6842681
Last Updated: 02/20/2021
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.
