$385,000
Investment Summary
- Monthly Cash Flow
- $337
- Cap Rate
- 7.2%
- Cash-on-Cash Return
- 4.6%
- Debt Coverage Ratio
- 1.17
- 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
Experience the best of city living with ultimate privacy and sophistication at 1910 Cedar Glenn Way Unit 4401- A hidden gem in the center of it all. Welcome to this elegant retreat at The Flats at Riverwalk, where modern living meets unparalleled convenience. This stunning top-floor, corner unit offers 3 bedrooms and 2 bathrooms and is perfectly situated in the coveted 30339 zip code, also home to The Atlanta Braves. This unique location provides the best of both worlds, combining the vibrant lifestyle of Atlanta with the community charm and benefits of Cobb County. Prime Location: - Coveted Zip Code: Enjoy the prestige of an Atlanta address while benefiting from Cobb County's excellent schools, community amenities, and lower property taxes. This area, often referred to as "Cobb Atlanta," offers a unique blend of urban and suburban living. - Unbeatable Accessibility: Nestled near the intersection of I-75 and I-285, your commute is a breeze. Enjoy quick access to all Atlanta and Cobb have to offer. - Vibrant Surroundings: Catch the Game Day shuttle right out front or even walk to the Atlanta Braves stadium and enjoy the dynamic atmosphere of The Battery, filled with dining, shopping, and entertainment options. - Convenience at Every Turn: Within a short distance, find major retailers like Walmart, Publix, Target, and Kroger, as well as Cumberland Mall and other shopping hubs. - Cultural and Entertainment Hub: Close to the Cobb Energy Performing Arts Centre and the Cobb Galleria for concerts, events, and conferences. Enjoy movies at AMC or Silverspot Cinema or catch a Jazz dinner show at The Perfect Note. - Outdoor Adventures: Connect with nature on the walking trail to the Chattahoochee River, which is perfect for outdoor enthusiasts. Luxurious Condo Features: - Thoughtful Design: This 1,595 sq ft unit offers all the bells & whistles- Top Floor, End of Hall, Double sided fireplace, French doors leading to a private balcony, Jetted soaking tub, and a well-planned layout with the owner's suite separate from secondary bedrooms. - Bright & Airy: With soaring ceilings ranging from 10 to 14 feet and expansive windows, this home is bathed in natural light, creating an inviting and spacious atmosphere. - Modern Amenities: The chef's kitchen is equipped with a GE Profile gas stove and GE fridge with subzero freezer drawer, and recent updates like a garbage disposal and dishwasher. - Comfort and Convenience: Enjoy two tandem parking spaces in the attached garage, accessible by elevator, ensuring no stairs despite the advantage of being on the top floor. - Recently updated in 2022 with new LVP flooring and wall and cabinet/ vanity paint throughout and the addition of under cabinet lighting in the kitchen Community Highlights: - Exclusive Amenities: Relax at the resort-style pool, work out in the fitness facility, or host gatherings at the rentable clubhouse with a full kitchen and outdoor grill. - Pet-Friendly Environment: Utilize the nearby walking trails and enjoy the community's lush, green surroundings. This condo is perfect for those seeking a sophisticated lifestyle with all the conveniences of city living without sacrificing privacy or space. Don't miss this opportunity to own a slice of luxury in a prime location. Schedule your showing today!
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Location
Property Details
Parking
- Description: Assigned, Basement
- Details: Assigned
- Garage Spaces: 2
- Spaces Total: 2
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 6
- # of Stories: 1
- Basement Description: None
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood
- Roof Material: Other
HOA
- Has HOA: Yes
- HOA Fee: $5,196/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 170941046
- Lot Size: 0 sqft
Property Information
- Property Type: Condominium
- Style: Traditional
- Year Built: 2007
Tax Information
- Annual Tax: $4,361
Utilities
- Water & Sewer: Public
- Heating: Electric, Forced Air
- Cooling: Ceiling Fan(s), Central Air
Location
- County: Cobb
Listing Details
Investment Summary
- Monthly Cash Flow
- $337
- Cap Rate
- 7.2%
- Cash-on-Cash Return
- 4.6%
- Debt Coverage Ratio
- 1.17
- 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:
| $385,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$308,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $77,000 |
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:
| $11,550 |
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:
| $88,550 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,593 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $242 |
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:
| $2.82 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $308,000 |
|---|---|
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:
| 6.625% |
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:
| $1,972 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $363 |
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:
| $315 |
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:
| $2,650 |
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:
| $4,500 | $54,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$270 | -$3,240 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,230 | $50,760 |
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. | 8% | -$363 | -$4,361 |
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% | -$315 | -$3,780 |
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% | -$360 | -$4,320 |
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% | -$225 | -$2,700 |
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% | -$225 | -$2,700 |
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. | 10% | -$433 | -$5,196 |
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 | 43% | -$1,921 | -$23,057 |
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:
| $2,309 | $27,708 |
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. | -$1,972 | -$23,664 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $337 | $4,044 |