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2193 Timber Lane Snellville, GA 30078

4 Beds 3 Baths 2,804 sqft Built 1969

$325,800

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $116.19
  • 5 Days on Market
  • MLS # : 6850760
  • Updated Date : 03/18/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,804 sqft
  • Baths : 3 full
Listing Agent's Description

New to the Market in a quiet established neighborhood close to Schools, hospitals, and great shopping. This well-maintained home has 3 bedrooms 2 full baths and Hardwood on the main all brick home on a basement with 1 full bath and kitchen coupled with a living area. The backside of the home has 2 areas for entertaining screened 20x12 and 15x12 covered sunroom. The backyard is fenced and has a 16x20 wired workshop with an RV parking area, concrete drive to the rear of the property joining the workshop. This home is move-in-ready and closing-friendly.

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: 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
Pharr Elementary School Primary Regular 658 51 9
Couch Middle School Middle Regular 996 52 9
Grayson High School High Regular 2,767 155 7

Pharr Elementary School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 51
9
GreatSchools Rating

Couch Middle School

  • Education Level: Middle
  • # of students: 996
  • # of teachers: 52
9
GreatSchools Rating

Grayson High School

  • Education Level: High
  • # of students: 2,767
  • # of teachers: 155
7
GreatSchools Rating
 

$293,220$358,380$325,800

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,132
Property Tax -$342
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
$96

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.

$325,800

PROJECTED PRICE

$1,770

PROJECTED RENT

0.54%

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$5.0k$10k$15k

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$92,087

INVESTMENT

$92,087

Down Payment
$81,450
Rehab Estimate
$5,750
Closing Costs
$4,887

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,132

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,450
Loan Amount $244,350
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$20,081

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $2,117

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7703$1,8004$2,0855$2,600
$2,600
RENT COMPS ANALYSIS
  • 2193 Timber Lane Snellville, GA 2
    • 4 beds 3 baths ∙ 2,804 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,804 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.63
    •  
  • 2049 Harbour Oaks Drive Snellville, GA 1
    • 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 1977
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.69
    •  
  • 2724 Hickory Smoke Court Snellville, GA 3
    • 5 beds 3 baths ∙ 2,550 Sqft ∙ Built 1972 5 beds 3 baths ∙ 2,550 Sqft ∙ Built 1972
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.71
    •  
  • 2159 New London Place Snellville, GA 4
    • 5 beds 3 baths ∙ 2,707 Sqft ∙ Built 1969 5 beds 3 baths ∙ 2,707 Sqft ∙ Built 1969
    property image
    LEASED 03/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,085
    • $0.77
    •  
  • 2119 Harbour Oaks Drive Snellville, GA 5
    • 4 beds 4 baths ∙ 3,043 Sqft ∙ Built 1979 4 beds 4 baths ∙ 3,043 Sqft ∙ Built 1979
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.85
    •  
PROPERTY LISTING DETAILS
Ken Wharam
1.478.256.3429
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6850760
Last Updated: 03/18/2021
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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