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953 Rittenhouse Way Unit 8 Atlanta, GA 30316

4 Beds 3 Baths 2,030 sqft Built 2021

$420,445

List Price

$3,800

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $207.12
  • 4 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,030 sqft
  • Baths : 3 full
Listing Agent

Tobin

Listing Agent's Description

Welcome to Pontiac Place, an enclave of 25 custom homes (GREAT LOTS BOTH BASEMENT AND SLABS AVAILABLE) by award-winning O'Dwyer Homes. This will be the Chestnut 1 with entry porch floor plan. Interiors will feature all the bells and whistles - hardwood floors, stainless gas cooking, patio, 2 car garage and long driveways, sunlit rooms & open concept living. Minutes to East Atlanta Village, Glenwood Park & Grant Park, and near I-20/I-85/I-75. Pontiac Place connects to the Beltline through the Custer Connector! FOR SOME GPS: USE 1475 PONTIAC PLACE TO BE BUILT , IN CONSTRUCTION NOW February March 2021 Chestnut 1 floor plan with entry porch .

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MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Zip Code: 30316

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $103k277k

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

Zip Code: 30316

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211736

* 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
Barack H. Obama Elementary Magnet School Of Technology Primary Regular NA
Mcnair Middle School Middle Regular 697 46 2
Mcnair High School High Regular 808 51 3

Barack H. Obama Elementary Magnet School Of Technology

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Mcnair Middle School

  • Education Level: Middle
  • # of students: 697
  • # of teachers: 46
2
GreatSchools Rating

Mcnair High School

  • Education Level: High
  • # of students: 808
  • # of teachers: 51
3
GreatSchools Rating
 

$378,401$462,490$420,445

PURCHASE PRICE

$3,420$4,180$3,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,800
EXPENSES Loan Payment -$1,460
Property Tax -$505
Property Insurance -$66
HOA -$100
Property Management Fees -$342
CASH FLOW
$1,326

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.

$420,445

PROJECTED PRICE

$3,800

PROJECTED RENT

0.90%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.6%
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$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,918

INVESTMENT

$113,918

Down Payment
$105,111
Rehab Estimate
$2,500
Closing Costs
$6,307

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,460

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,111
Loan Amount $315,334
See What Happens When You Reinvest Cash Flow

16.58

YEARS SAVED

$120,678

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Mynd
Tobin
BESbswy