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2255 Oakland Spring Drive Snellville, GA 30039

3 Beds 2 Baths 1,348 sqft Built 2000

$180,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $133.53
  • 4 Days on Market
  • MLS # : 6819685
  • Updated Date : 12/18/2020 at 22:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,348 sqft
  • Baths : 2 full
Listing Agent's Description

Don't miss this beautiful corner lot ranch home! It's located just minutes from Hwy 78, and very convenient to Stone Mountain, Lilburn and downtown Snellville. This home features fenced-in backyard with patio area, family room with high ceilings & wood burning fireplace, newer roof, low maintenance vinyl siding, double vanities, trey ceilings and walk-in closet in owner's suite. Hurry!

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)
  • 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)
  • #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)

PRICE & RENT TRENDS

Zip Code: 30039

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200kPrice in $103k209k

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

Zip Code: 30039

ZipNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9251515

* 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
Centerville Elementary School Primary Regular 741 47 5
Shiloh Middle School Middle Regular 1,844 112 6
Shiloh High School High Regular 2,238 126 4

Centerville Elementary School

  • Education Level: Primary
  • # of students: 741
  • # of teachers: 47
5
GreatSchools Rating

Shiloh Middle School

  • Education Level: Middle
  • # of students: 1,844
  • # of teachers: 112
6
GreatSchools Rating

Shiloh High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 126
4
GreatSchools Rating
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$664
Property Tax -$229
Property Insurance -$53
HOA -$13
Property Management Fees -$119
CASH FLOW
$292

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.

$180,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.8%
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$100k$200k$300k$400k$500k$600k$700k$800k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

11.75

YEARS SAVED

$38,809

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,153

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,3753$1,375
$1,375
RENT COMPS ANALYSIS
  • 2255 Oakland Spring Drive Snellville, GA 1
    • 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.02
    •  
  • 3586 Winterberry Lane Snellville, GA 2
    • 3 beds 3 baths ∙ 1,643 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,643 Sqft ∙ Built 1986
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.84
    •  
  • 2605 Holly Berry Trail Snellville, GA 3
    • 4 beds 2 baths ∙ 1,576 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,576 Sqft ∙ Built 1980
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.87
    •  
PROPERTY LISTING DETAILS
Karen Lickay
1.770.776.6033
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6819685
Last Updated: 12/18/2020
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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