$565,000
Investment Summary
- Monthly Cash Flow
- -$1,384
- Cap Rate
- 3.3%
- Cash-on-Cash Return
- -12.8%
- Debt Coverage Ratio
- 0.53
- Internal Rate of Return (5 years)
- -8.4%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
|| END UNIT || || EXPOSED BRICK WALLS || || ORIGINAL HARDWOOD FLOORS || || GRANITE COUNTERS || || IN-UNIT LAUNDRY || || 2 ASSIGNED OFF-STREET PARKING SPACES || || HISTORIC 1920s BUILDING || || WALKABLE VIRGINIA-HIGHLAND LOCATION || ** What You'll See ** As you enter this charming Virginia-Highland condo, you'll be welcomed by TALL CEILINGS, sunlight streaming through OVERSIZED WINDOWS, and ORIGINAL HARDWOOD FLOORS that glow with warmth and character. EXPOSED BRICK WALLS and thoughtful historic detailing create visual texture and timeless appeal. The kitchen sparkles with granite countertops, stainless steel appliances, and clean lines, while each room flows effortlessly with natural light and smart, spacious layouts. ** What You'll Hear ** You'll notice the QUIET COMFORT of a well-maintained end unit-just the soft hum of your own thoughts, laughter of friends, or your favorite playlist echoing gently across open living spaces. Step outside and you'll catch the buzz of neighborhood life-the clink of coffee cups at sidewalk cafes, the rustle of leaves along the historic tree-lined street, and the distant charm of weekend festivals just blocks away. ** What You'll Feel ** This home feels like home. The sturdy construction of a 1920s building paired with MODERN AMENITIES gives a feeling of both stability and ease. The cool touch of brick, the smooth glide of hardwood underfoot, and the calming sense of privacy from being an end unit make this condo not just beautiful, but livable. You'll feel safe, cared for, and completely at ease in your own private city retreat. ** What You'll Experience ** Here, you'll experience the best of in-town living-walk to dinner, bike to Piedmont Park, or meet friends for drinks around the corner. Enjoy two assigned parking spaces in a private lot, in-unit laundry, and a low-maintenance lifestyle thanks to reasonable HOA dues. With a transferable home warranty for peace of mind and a smoke-free environment, you'll experience true comfort, convenience, and a deep connection to one of Atlanta's most ICONIC neighborhoods.
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Location
Property Details
Parking
- Description: Assigned
- Details: Assigned, Off Street
- Garage Spaces: 2
- Spaces Total: 2
Bedroom Information
- # of Bedrooms: 2
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 0.0
Interior Features
- # of Rooms: 4
- # of Stories: 1
- Basement Description: None
Exterior Features
- Exterior Walls Materials: Rock, Stone
- Roof Material: Other
HOA
- Has HOA: Yes
- HOA Fee: $7,080/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 14001600280142
- Lot Size: 0 sqft
Property Information
- Property Type: Condominium
- Style: Traditional
- Year Built: 1920
Tax Information
- Annual Tax: $3,102
Utilities
- Water & Sewer: Public
- Heating: Central, Forced Air, Heat Pump, Hot Water
- Cooling: Ceiling Fan(s), Central Air
Location
- County: Fulton
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,384
- Cap Rate
- 3.3%
- Cash-on-Cash Return
- -12.8%
- Debt Coverage Ratio
- 0.53
- Internal Rate of Return (5 years)
- -8.4%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $565,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$452,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $113,000 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $16,950 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $129,950 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,450 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $390 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $2.41 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $452,000 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 6.810% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $2,950 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $259 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $245 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $3,454 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $3,500 | $42,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$210 | -$2,520 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,290 | $39,480 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 7% | -$259 | -$3,102 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$245 | -$2,940 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$280 | -$3,360 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$175 | -$2,100 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$175 | -$2,100 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | 17% | -$590 | -$7,080 |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 49% | -$1,724 | -$20,682 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| $1,566 | $18,792 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$2,950 | -$35,400 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,384 | $16,608 |