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2222 Cosgrove Place Snellville, GA 30078

4 Beds 3 Baths 2,656 sqft Built 2017

$395,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $148.72
  • 3 Days on Market
  • MLS # : 6816541
  • Updated Date : 12/12/2020 at 10:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,656 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful Brick Front and Highly Sought After Master on Main Suite offers a 2-story foyer, Plantation Shutters, and Hardwood floors throughout main level/stairs, Large Gourmet Kitchen has plenty of upgrades: stainless steel vent hood with backsplash, granite countertops, and Breakfast Area. Kitchen overlooks the Family Room with Cozy Fireplace. Mudroom and laundry room off garage. Master Bath has additional upgraded tile, Double Vanity w/ Granite, and Gorgeous clawfoot tub. Outside features Covered Front Porch & Backyard is level/fenced with a Covered Patio.

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)
  • 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)
  • 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: 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
Brookwood Elementary School Primary Regular 1,120 74 9
Alton C. Crews Middle School Middle Regular 1,272 77 8
Brookwood High School High Regular 3,424 172 9

Brookwood Elementary School

  • Education Level: Primary
  • # of students: 1,120
  • # of teachers: 74
9
GreatSchools Rating

Alton C. Crews Middle School

  • Education Level: Middle
  • # of students: 1,272
  • # of teachers: 77
8
GreatSchools Rating

Brookwood High School

  • Education Level: High
  • # of students: 3,424
  • # of teachers: 172
9
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,457
Property Tax -$439
Property Insurance -$78
HOA -$117
Property Management Fees -$119
CASH FLOW
$60

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.

$395,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.57%

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$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$22,147

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,019

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8403$2,270
$2,270
RENT COMPS ANALYSIS
  • 2222 Cosgrove Place Snellville, GA 3
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.85
    •  
  • 2732 Apple Orchard Trail Snellville, GA 1
    • 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2004
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.73
    •  
  • 1473 Lechemin Drive Snellville, GA 2
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 2004
    LEASED 07/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.79
    •  
PROPERTY LISTING DETAILS
Letitia Edwards
1.770.853.7881
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6816541
Last Updated: 12/12/2020
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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