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2055 Lake Ford Circle Duluth, GA 30096

3 Beds 3 Baths 2,108 sqft Built 1993

$305,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $144.69
  • 5 Days on Market
  • MLS # : 6810120
  • Updated Date : 11/19/2020 at 10:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,108 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This just might be the most desirable and the most practical neighborhood in Duluth - Enjoy a quiet neighborhood, well maintained three bedroom home conveniently located near school, grocery, restaurant, golf and major highway. Updated kitchen with granite countertop and tile backsplash! Beautifully leveled spacious backyard is perfect for gardening! NEW ROOF!!!

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)
  • 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (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)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Zip Code: 30096

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $103k330k

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

Zip Code: 30096

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732087

* 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
Beaver Ridge Elementary School Primary Regular 1,300 89 5
Summerour Middle School Middle Regular 1,561 101 5
Norcross High School High Regular 3,738 204 5

Beaver Ridge Elementary School

  • Education Level: Primary
  • # of students: 1,300
  • # of teachers: 89
5
GreatSchools Rating

Summerour Middle School

  • Education Level: Middle
  • # of students: 1,561
  • # of teachers: 101
5
GreatSchools Rating

Norcross High School

  • Education Level: High
  • # of students: 3,738
  • # of teachers: 204
5
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,125
Property Tax -$372
Property Insurance -$68
HOA -$29
Property Management Fees -$119
CASH FLOW
$27

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.

$305,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.2%
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-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,048

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,707

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7404$1,7755$1,850
$1,850
RENT COMPS ANALYSIS
  • 2055 Lake Ford Circle Duluth, GA 3
    • 3 beds 4 baths ∙ 2,108 Sqft ∙ Built 1993 3 beds 4 baths ∙ 2,108 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.83
    •  
  • 4530 Millerbrook Court Duluth, GA 1
    • 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 1995
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 4435 Clipper Bay Road Duluth, GA 2
    • 3 beds 3 baths ∙ 2,040 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,040 Sqft ∙ Built 1990
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
  • 2630 Millerbrook Drive Duluth, GA 4
    • 3 beds 2 baths ∙ 2,306 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,306 Sqft ∙ Built 1994
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.77
    •  
  • 4760 Fairway View Court Duluth, GA 5
    • 3 beds 2 baths ∙ 2,286 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,286 Sqft ∙ Built 1993
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
PROPERTY LISTING DETAILS
Judy Chin
1.770.864.4362
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6810120
Last Updated: 11/19/2020
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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