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1595 Thoreau Drive Suwanee, GA 30024

4 Beds 3 Baths 2,130 sqft Built 1985

$325,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $152.58
  • 3 Days on Market
  • MLS # : 6828651
  • Updated Date : 01/16/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,130 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Don’t miss this! Last home in this subdivision sold in less than 2 days. Seller has their next home under contract, and would like to close ASAP, bring all offers. Lovely two story home in Suwanee on a double lot. Home sits on over an acre, with a private wooded backyard. Main level features a large eat-in kitchen with a breakfast bar and breakfast area, a half bath, a separate dining room, living room, great room, laundry room, and a flex space that is currently used as an office. This space could be a large bedroom on the main level or a den/study.

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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)
  • 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

Zip Code: 30024

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k373k

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

Zip Code: 30024

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9732129

* 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
Parsons Elementary School Primary Regular 816 53 8
Hull Middle School Middle Regular 1,275 86 9
Peachtree Ridge High School High Regular 3,211 163 8

Parsons Elementary School

  • Education Level: Primary
  • # of students: 816
  • # of teachers: 53
8
GreatSchools Rating

Hull Middle School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 86
9
GreatSchools Rating

Peachtree Ridge High School

  • Education Level: High
  • # of students: 3,211
  • # of teachers: 163
8
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,129
Property Tax -$385
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$51

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.

$325,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$11,552

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,709

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7004$1,8005$1,950
$1,950
RENT COMPS ANALYSIS
  • 1595 Thoreau Drive Suwanee, GA 1
    • 4 beds 3 baths ∙ 2,130 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,130 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
  • 3580 Highland Bluff Drive Suwanee, GA 2
    • 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 1997
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.82
    •  
  • 1430 Highland Farm Drive Suwanee, GA 3
    • 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 1999
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 3078 Savannah Walk Lane Suwanee, GA 4
    • 4 beds 3 baths ∙ 2,283 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,283 Sqft ∙ Built 1999
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 2860 Olde Savannah Cove Suwanee, GA 5
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 1997
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
PROPERTY LISTING DETAILS
Amanda Blanton
1.678.992.3816
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828651
Last Updated: 01/16/2021
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. © 2017 First Multiple Listing Service, Inc.

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