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976 Grant Street Se Atlanta, GA 30315

3 Beds 2 Baths 1,206 sqft Built 1995

$375,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $310.95
  • 2 Days on Market
  • MLS # : 6837954
  • Updated Date : 02/13/2021 at 18:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,206 sqft
  • Baths : 2 full
Listing Agent's Description

Adorable Grant Park bungalow in great location! Just steps to The Beacon Atlanta offering dining, retail, arts, & wellness options. A half mile to Zoo Atlanta and close to the Beltline. In the middle of everything, yet this charming home is tucked away and offers great privacy. Fenced front yard is perfect for pets. Open floor plan is light & bright. Kitchen opens to living and dining room area. Kitchen features granite counters, stainless appliances, plus plenty of counterspace.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Grant Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k359k

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

Neighborhood: Grant Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9732260

* 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
Parkside Elementary School Primary Regular 584 44 2
Martin Luther King, Jr. Middle School Middle Regular 680 61 3
Maynard Holbrook Jackson High School High Regular 1,022 72 4

Parkside Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 44
2
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,303
Property Tax -$436
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$78

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$375,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,247

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $1,384

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3953$1,4004$1,6505$1,830
$1,830
RENT COMPS ANALYSIS
  • 976 Grant Street Se Atlanta, GA 5
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.52
    •  
  • 699 Cooper Street Sw Atlanta, GA 1
    • 3 beds 3 baths ∙ 1,332 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,332 Sqft ∙ Built 2004
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
  • 1150 Ira Street Sw Atlanta, GA 2
    • 4 beds 2 baths ∙ 1,118 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,118 Sqft ∙ Built 2003
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.25
    •  
  • 990 Custer Avenue Se Atlanta, GA 3
    • 3 beds 1 baths ∙ 1,147 Sqft ∙ Built 2001 3 beds 1 baths ∙ 1,147 Sqft ∙ Built 2001
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.22
    •  
  • 725 Grant Terrace Se Atlanta, GA 4
    • 3 beds 1 baths ∙ 1,400 Sqft ∙ Built 1992 3 beds 1 baths ∙ 1,400 Sqft ∙ Built 1992
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.18
    •  
PROPERTY LISTING DETAILS
Rhianna Shemper
1.770.560.5772
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837954
Last Updated: 02/13/2021
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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