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2306 Copper Grove Lane Buford, GA 30518

4 Beds 3 Baths 2,850 sqft Built 2002

$293,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $102.81
  • 5 Days on Market
  • MLS # : 6822562
  • Updated Date : 12/30/2020 at 19:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,850 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Click the Virtual Tour link to view the 3D Matterport walkthrough. Enjoy a beautiful entrance leading to an open floor plan designed for the best in entertainment and daily function. Ample space with multiple living and dining areas. Large kitchen with breakfast bar and breakfast area opens up to the family room. Spacious upper bedrooms and oversized master with two huge walk-in closets and a soaking tub. Private backyard with patio slab and fire pit to gather around. Recently installed fence, front & rear doors and interior paint. Roof is only 4 years old.

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30518

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30518

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9502009

* 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
White Oak Elementary School Primary Regular 840 47 9
Lanier Middle School Middle Regular 1,353 79 7
Lanier High School High Regular 1,718 88 7

White Oak Elementary School

  • Education Level: Primary
  • # of students: 840
  • # of teachers: 47
9
GreatSchools Rating

Lanier Middle School

  • Education Level: Middle
  • # of students: 1,353
  • # of teachers: 79
7
GreatSchools Rating

Lanier High School

  • Education Level: High
  • # of students: 1,718
  • # of teachers: 88
7
GreatSchools Rating
 

$263,700$322,300$293,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,081
Property Tax -$449
Property Insurance -$82
HOA -$42
Property Management Fees -$119
CASH FLOW
$127

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.

$293,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.6%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,395

INVESTMENT

$83,395

Down Payment
$73,250
Rehab Estimate
$5,750
Closing Costs
$4,395

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,081

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,250
Loan Amount $219,750
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$25,979

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,088

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9003$2,0004$2,0005$2,300
$2,300
RENT COMPS ANALYSIS
  • 2306 Copper Grove Lane Buford, GA 2
    • 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.67
    •  
  • 5257 Blossom Brook Drive Sugar Hill, GA 1
    • 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 2007
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.69
    •  
  • 5671 Crest Hill Drive Buford, GA 3
    • 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 2012
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.69
    •  
  • 5542 Leaf Ridge Lane Buford, GA 4
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2013
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 1589 Avalon Creek Road Buford, GA 5
    • 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 2017
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
PROPERTY LISTING DETAILS
Louise Bannister
1.678.858.1180
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6822562
Last Updated: 12/30/2020
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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