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1965 Skyland Glen Drive Snellville, GA 30078

3 Beds 2 Baths 2,306 sqft Built 1982

$279,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $121.38
  • 3 Days on Market
  • MLS # : 6825941
  • Updated Date : 01/09/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,306 sqft
  • Baths : 2 full
Listing Agent's Description

UP FOR SALE A RECENTLY RENOVATED RANCH ,3 SIDED BRICK WITH NEW SIDING IN THE BACK, NEW ROOF WITH 10 YEARS WARRANTY, FRESHLY PAINTED IN DESIGN COLORS, NEWLY RENOVATED KITCHEN WITH GRANITE COUNTER TOPS AND BACK SPLASH, NEW GRANITE COUNTER TOPS IN THE BATHROOM,THE HOUSE IS PLACED ON A HUGE LOT WITH HUGE MULTI DECKS, STAINLESS STEEL APPLIANCES, NEW LAMINATE FLOORING, ALL NEW LIGHT FIXTURES, NEW WATER HEATER, NEW HEAT/AIR UNIT, SPAIOUS ROOMS WITH PRIVATE ENTRY TO THE DECK FROM THE MASTER BEDROOM.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Zip Code: 30078

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200kPrice in $103k209k

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

Zip Code: 30078

ZipNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9671564

* 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
Britt Elementary School Primary Regular 585 38 6
Snellville Middle School Middle Regular 913 53 6
South Gwinnett High School High Regular 2,503 139 5

Britt Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 38
6
GreatSchools Rating

Snellville Middle School

  • Education Level: Middle
  • # of students: 913
  • # of teachers: 53
6
GreatSchools Rating

South Gwinnett High School

  • Education Level: High
  • # of students: 2,503
  • # of teachers: 139
5
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$972
Property Tax -$294
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$174

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.

$279,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$25,158

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,678

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5453$1,5754$1,6305$1,685
$1,685
RENT COMPS ANALYSIS
  • 1965 Skyland Glen Drive Snellville, GA 4
    • 3 beds 2 baths ∙ 2,306 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,306 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.71
    •  
  • 1994 Rockdale Circle Snellville, GA 1
    • 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 1988
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.75
    •  
  • 3086 Hidden Forest Drive Snellville, GA 2
    • 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 1974
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.76
    •  
  • 3030 Hampton Ridge Way Snellville, GA 3
    • 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1985
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.72
    •  
  • 3299 Summit Edge Court Loganville, GA 5
    • 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 1993
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.68
    •  
PROPERTY LISTING DETAILS
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6825941
Last Updated: 01/09/2021
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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