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171 Avonlea Park Place Ne Suwanee, GA 30024

5 Beds 3 Baths 2,822 sqft Built 1997

$450,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $159.46
  • 3 Days on Market
  • MLS # : 6913440
  • Updated Date : 07/12/2021 at 19:09
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,822 sqft
  • Baths : 3 full
Listing Agent's Description

Come view this home in sought after Avonlea Crossing subdivision. Absolutely Gorgeous All New Samsung Appliances, New counter tops, Hot Water Tank , New Lighting, Ceiling Fans and more. Freshly painted Interior and Exterior. Fantastic swim/tennis community in a great location close to Suwanee Town Center. I-85, parks and shopping and 12 Miles from Lake Lanier. This property wont last long start showing now! Closing Attorney will be with Pacific Law- Duluth 3700 Crestwood Pkwy NW, Duluth, GA 30096 770-702-8467

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Suwanee Elementary School Primary Regular 671 40 9
North Gwinnett Middle School Middle Regular 2,129 118 8
North Gwinnett High School High Regular 2,698 135 9

Suwanee Elementary School

  • Education Level: Primary
  • # of students: 671
  • # of teachers: 40
9
GreatSchools Rating

North Gwinnett Middle School

  • Education Level: Middle
  • # of students: 2,129
  • # of teachers: 118
8
GreatSchools Rating

North Gwinnett High School

  • Education Level: High
  • # of students: 2,698
  • # of teachers: 135
9
GreatSchools Rating
 

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

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,563
Property Tax -$475
Property Insurance -$82
HOA -$38
Property Management Fees -$119
CASH FLOW
-$126

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.

$450,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.48%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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 55% 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

3.33

YEARS SAVED

$12,356

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,173

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$1,9954$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 171 Avonlea Park Place Ne Suwanee, GA 5
    • 5 beds 3 baths ∙ 2,822 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,822 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.76
    •  
  • 326 Canterbury Place Drive Suwanee, GA 1
    • 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2001
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.75
    •  
  • 3470 Ne Maple Terrace Drive Suwanee, GA 2
    • 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1996
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 3752 Memphis Drive Suwanee, GA 3
    • 4 beds 3 baths ∙ 2,659 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,659 Sqft ∙ Built 2005
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.75
    •  
  • 181 Avonlea Park Place Suwanee, GA 4
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1997
    LEASED 04/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
PROPERTY LISTING DETAILS
Meschell Arthur
1.678.542.8017
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6913440
Last Updated: 07/12/2021
support@investimateroi.com

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