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2232 Flowering Drive Grayson, GA 30017

4 Beds 3 Baths 2,502 sqft Built 1996

$329,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $131.85
  • 5 Days on Market
  • MLS # : 6801625
  • Updated Date : 10/31/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,502 sqft
  • Baths : 3 full
Listing Agent's Description

Beautifully maintained 4/3/2-car gar. ranch on full finished basement in sought-after Grayson. Entrance foyer, fireside fam rm & fml din rm. Eat-in kitchen w/white cabinets and granite counters & sunny bkfst rm. 3 bedrooms/2 baths on main and huge bonus room upstairs. Finished basement w/teen/in-law suite, bath, closets, great rm, workout rm/office & storage. You'll love the private, wooded .84-acre lot w/walking trail relaxing in your covered upper & lower level decks. All appliances remain. All this in the Archer school cluster. New roof 2019

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30017

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30017

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
W. J. Cooper Elementary School Primary Regular 1,174 68 7
Mcconnell Middle School Middle Regular 1,666 93 8
Archer High School High Regular 2,432 121 8

W. J. Cooper Elementary School

  • Education Level: Primary
  • # of students: 1,174
  • # of teachers: 68
7
GreatSchools Rating

Mcconnell Middle School

  • Education Level: Middle
  • # of students: 1,666
  • # of teachers: 93
8
GreatSchools Rating

Archer High School

  • Education Level: High
  • # of students: 2,432
  • # of teachers: 121
8
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,217
Property Tax -$344
Property Insurance -$75
HOA -$30
Property Management Fees -$119
CASH FLOW
-$36

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.

$329,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.2%
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

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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$16,097

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,776

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,7504$1,8005$1,805
$1,805
RENT COMPS ANALYSIS
  • 2232 Flowering Drive Grayson, GA 3
    • 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.70
    •  
  • 479 Leaflet Ive Drive Lawrenceville, GA 1
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2005
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.64
    •  
  • 632 Leaflet Ives Trail Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 2,250 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,250 Sqft ∙ Built 2005
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.73
    •  
  • 2202 Flowering Drive Grayson, GA 4
    • 5 beds 3 baths ∙ 2,393 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,393 Sqft ∙ Built 2000
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
  • 2077 Juniper Ives Court Grayson, GA 5
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2014
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,805
    • $0.72
    •  
PROPERTY LISTING DETAILS
Bert Tundidor
1.678.770.3131
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6801625
Last Updated: 10/31/2020
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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