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989 Grant Terrace Se Atlanta, GA 30315

5 Beds 5 Baths 2,600 sqft Built 2005

$450,000

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $173.08
  • 5 Days on Market
  • MLS # : 6844572
  • Updated Date : 02/26/2021 at 17:55
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,600 sqft
  • Baths : 4 full , 1 half
Listing Agent's Description

Tenants in place. Please do not disturb. This home is a steal at this price! BIG home in a great area with lovely brick-paved street. This home needs a little TLC. That's why its priced the way it is.

SEE MORE

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)
  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Peoplestown

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $82k235k

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

Neighborhood: Peoplestown

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8141714

* 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
Daniel H. Stanton Elementary School Primary Regular 249 22 2
Martin Luther King, Jr. Middle School Middle Regular 680 61 3
Maynard Holbrook Jackson High School High Regular 1,022 72 4

Daniel H. Stanton Elementary School

  • Education Level: Primary
  • # of students: 249
  • # of teachers: 22
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
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$1,563
Property Tax -$764
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$267

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.

$450,000

PROJECTED PRICE

$2,790

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.8%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$26,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,790

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $3,033

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,790
1$2,7902$3,2003$3,2004$3,200
$3,200
RENT COMPS ANALYSIS
  • 989 Grant Terrace Se Atlanta, GA 1
    • 5 beds 5 baths ∙ 2,600 Sqft ∙ Built 2005 5 beds 5 baths ∙ 2,600 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.07
    •  
  • 233 Ormond Street Se Atlanta, GA 2
    • 5 beds 4 baths ∙ 2,851 Sqft ∙ Built 2018 5 beds 4 baths ∙ 2,851 Sqft ∙ Built 2018
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.12
    •  
  • 705 Pershing Avenue Se Atlanta, GA 3
    • 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2007
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.15
    •  
  • 728 Garibaldi Street Sw Atlanta, GA 4
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2006
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.23
    •  
PROPERTY LISTING DETAILS
Chrystal Lord Stachura
1.678.698.3948
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6844572
Last Updated: 02/26/2021
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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