$620,000
Investment Summary
- Monthly Cash Flow
- -$1,513
- Cap Rate
- 3.2%
- Cash-on-Cash Return
- -12.7%
- Debt Coverage Ratio
- 0.52
- Internal Rate of Return (5 years)
- -8.3%
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
Greystone Suite 305 is a 3 BEDROOMS and 3.5 BATHROOMS luxury condominium on 1 level in a 58 units gated building constructed of steel and concrete and completely sprinklered to create an ideal safe and secure living environment! There is 365 days-a-year professional concierge service on site plus Greystone is located in Cobb County which has the best law enforcement in Metro Atlanta, and at age 62 you become eligible for a school tax exemption which reduces property taxes by about 67%! The 2024 property taxes for Suite 305 were only $2120! Entering the front door to Suite 305 is a most welcoming experience! The marble foyer is gracious and it has a beautiful chandelier illuminating the many luxury features which are consistent throughout the entire home including 10 feet ceilings, 8 feet doors, and exquisite crown, base, door and window moldings! Your view from the foyer is a wall of windows with glass French doors in the living room which provide a glimpse of the large and very private balcony and a peaceful view of Vinings Mountain. As you walk through the Foyer into the fireside living room you notice the beautiful wood floors and have a partial view of the kitchen, keeping room and separate dining room to the left and the primary suite to the right. This corner condominium is a light and airy with windows in 5 rooms on 2 sides of the home providing lots of wonderful natural light! The primary suite occupies the entire right side of the home and has a sitting room with access to the private covered balcony, 2 walk-in closets and a s[a-like marble bathroom with a glass walled shower, soaking/jetted tub, dual vanities and a water closet. The granite kitchen has Thermador and Bosch appliances, a gas cooktop, island with seating area and a walk-in butler's pantry. A large multi-purpose keeping room with windows is located adjacent to the kitchen. The 2nd and 3rd bedrooms with ensuite bathrooms are located on opposite sides of the keeping room. One of the bedrooms has windows on 2 walls and in the bathroom. The dining room has windows and glass French doors which open to the private covered balcony. This home has 2 great parking spaces on G2 which is the second level of the parking garage, a large storage unit on G1 and a wine locker in the grotto. Greystone is pet friendly with a new, very large dog park! The property has an on-site property manager, maintenance engineer, and housekeeping services for the common areas. The monthly HOA fee covers virtually every typical homeowner expense except electric which is provided by Ga Power. Xfinity provides high speed internet access and fiber-optic and cable TV. The basic service with 2 TV hook-ups is paid for by the HOA One of the most pleasant surprises about Greystone is its location which is secluded yet it's the most convenient and least congested in Vinings! Greystone is convenient to everything Vinings and Atlanta have to offer. It's very near I-75 and I-285, Truist Park which in addition to being the home of the Atlanta Braves baseball team has become Atlanta's most popular venue 365 days a year, The Galleria, The Cobb Performing Arts Center, Vinings Jubilee, the Chattahoochee River Park, Cumberland Mall and many of Atlanta's most popular restaurants! Greystone is in the final stages of completing a $1 million renovation which has been paid for by the current owners but the ongoing benefits will be yours! Greystone is the best kept secret and best luxury condominium value in Vinings and Atlanta. The listing agent has lived at Greystone for 15 years and can answer your questions! Greystone has it all - the only thing missing is you!
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Location
Property Details
Parking
- Description: Basement, Garage
- Details: Assigned, Covered, Garage, Storage
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Partial): 1
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 6
- # of Stories: 1
- Basement Description: None
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Brick
- Foundation: Slab
- Roof Material: Asbestos Shingle, Other
HOA
- Has HOA: Yes
- HOA Fee: $989/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 17095001040
- Lot Size: 0 sqft
Property Information
- Property Type: Condominium
- Style: Garden (1 Level), Mid-Rise (up to 5 stories), Traditional
- Year Built: 2005
Tax Information
- Annual Tax: $2,120
Utilities
- Water & Sewer: Public
- Heating: Central, Electric, Forced Air
- Cooling: Ceiling Fan(s), Central Air, Electric
Location
- County: Cobb
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,513
- Cap Rate
- 3.2%
- Cash-on-Cash Return
- -12.7%
- Debt Coverage Ratio
- 0.52
- Internal Rate of Return (5 years)
- -8.3%
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:
| $620,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$496,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $124,000 |
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:
| $18,600 |
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:
| $142,600 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 0 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| n/a |
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:
| n/a |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $496,000 |
|---|---|
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:
| $3,176 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $177 |
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:
| $287 |
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:
| $3,640 |
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:
| $4,100 | $49,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$246 | -$2,952 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,854 | $46,248 |
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. | 4% | -$177 | -$2,120 |
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% | -$287 | -$3,444 |
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% | -$328 | -$3,936 |
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% | -$205 | -$2,460 |
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% | -$205 | -$2,460 |
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. | 24% | -$989 | -$11,868 |
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 | 53% | -$2,191 | -$26,288 |
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:
| $1,663 | $19,956 |
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. | -$3,176 | -$38,112 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,513 | $18,156 |