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2295 Skylars Mill Way Snellville, GA 30078

4 Beds 3 Baths 2,752 sqft Built 2002

$259,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $94.44
  • 3 Days on Market
  • MLS # : 6815637
  • Updated Date : 12/05/2020 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,752 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Nestled on a quiet cul-de-sac, this spacious and bright floor plan features hardwood floors throughout with a separate formal living room and dining room. Open family room with an inviting fireplace, spacious kitchen with a breakfast area, stainless steel appliances and tile backsplash. Large master suite with a sitting room and fireplace, walk-in closet, double vanity, soaking tub, and separate shower. The private backyard is perfect for enjoying outdoor gatherings with an outdoor kitchen. Located near downtown

SEE MORE

MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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
Britt Elementary School Primary Regular 585 38 6
Snellville Middle School Middle Regular 913 53 6
South Gwinnett High School High Regular 2,503 139 5

Britt Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 38
6
GreatSchools Rating

Snellville Middle School

  • Education Level: Middle
  • # of students: 913
  • # of teachers: 53
6
GreatSchools Rating

South Gwinnett High School

  • Education Level: High
  • # of students: 2,503
  • # of teachers: 139
5
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$959
Property Tax -$273
Property Insurance -$80
HOA -$25
Property Management Fees -$119
CASH FLOW
$344

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.

$259,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.69%

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$49,315

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,961

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,7503$1,8004$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 2295 Skylars Mill Way Snellville, GA 4
    • 4 beds 3 baths ∙ 2,752 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,752 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.65
    •  
  • 2790 Freemont Street Snellville, GA 1
    • 4 beds 3 baths ∙ 2,461 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,461 Sqft ∙ Built 2009
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.71
    •  
  • 2212 Turnbury Glen Walk Snellville, GA 2
    • 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2015
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.68
    •  
  • 2322 Turnbury Glen Walk Snellville, GA 3
    • 3 beds 3 baths ∙ 2,402 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,402 Sqft ∙ Built 2014
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
  • 3151 Wildberry Run Lane Snellville, GA 5
    • 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 2014
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
PROPERTY LISTING DETAILS
Stephen Milone
1.470.233.4409
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815637
Last Updated: 12/05/2020
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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