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180 Hammersmith Drive Suwanee, GA 30024

5 Beds 3 Baths 2,330 sqft Built 2007

$374,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $160.90
  • 2 Days on Market
  • MLS # : 6849741
  • Updated Date : 03/07/2021 at 00:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,330 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Rare opportunity in desirable Lambert H.S. district. Long term tenants just moved out. Home needs interior paint and carpet. This home in a swim/tennis community will not last long.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Settles Bridge Elementary School Primary Regular 1,040 61 9
Riverwatch Middle School Middle Regular 1,394 73 10
Lambert High School High Regular 2,741 143 10

Settles Bridge Elementary School

  • Education Level: Primary
  • # of students: 1,040
  • # of teachers: 61
9
GreatSchools Rating

Riverwatch Middle School

  • Education Level: Middle
  • # of students: 1,394
  • # of teachers: 73
10
GreatSchools Rating

Lambert High School

  • Education Level: High
  • # of students: 2,741
  • # of teachers: 143
10
GreatSchools Rating
 

$337,410$412,390$374,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,302
Property Tax -$309
Property Insurance -$72
HOA -$46
Property Management Fees -$119
CASH FLOW
$62

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.

$374,900

PROJECTED PRICE

$1,910

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$23,471

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,992

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9103$1,9504$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 180 Hammersmith Drive Suwanee, GA 2
    • 5 beds 3 baths ∙ 2,330 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,330 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.82
    •  
  • 565 Cricklewood Drive Suwanee, GA 1
    • 4 beds 3 baths ∙ 2,274 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,274 Sqft ∙ Built 2008
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.84
    •  
  • 595 Cricklewood Drive Suwanee, GA 3
    • 4 beds 3 baths ∙ 2,274 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,274 Sqft ∙ Built 2008
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
  • 435 Floral Place Suwanee, GA 4
    • 5 beds 3 baths ∙ 2,330 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,330 Sqft ∙ Built 2008
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 220 Hammersmith Drive Suwanee, GA 5
    • 5 beds 3 baths ∙ 2,328 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,328 Sqft ∙ Built 2008
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
PROPERTY LISTING DETAILS
Miriam Wells
1.404.908.6149
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6849741
Last Updated: 03/07/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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