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2396 Hidden Lane Snellville, GA 30078

3 Beds 2 Baths 1,680 sqft Built 1977

$229,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $136.31
  • 4 Days on Market
  • MLS # : 6813035
  • Updated Date : 12/04/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 2 full
Listing Agent's Description

Come see this super Cute 4 side brick RANCH in NO HOA neighborhood. Brightly lit rooms, hardwood floors & new interior paint. Updated kitchen w/ granite countertops & stainless appliances. Awesome primary bedroom w/ shiplap accent wall, walk-in closet & updated bathroom w/ decorator lighting. Secondary bedrooms are well sized w/ access to jack & Jill bath. Flat, fenced yard & large storage ; shed. New double pane windows, new carpet in bedrooms and new garage door opener. Recently added carport perfect for boat or additional vehicle! Close to schools, parks & shopping.

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 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)
  • 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)

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
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$845
Property Tax -$240
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$46

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.

$229,000

PROJECTED PRICE

$1,310

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$15,303

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,420

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,3753$1,4004$1,5455$1,595
$1,595
RENT COMPS ANALYSIS
  • 2396 Hidden Lane Snellville, GA 1
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.78
    •  
  • 3490 Andrea Lee Court Snellville, GA 2
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1986
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.86
    •  
  • 2054 Skyland Glen Drive Snellville, GA 3
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1982
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 3086 Hidden Forest Drive Snellville, GA 4
    • 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 1974
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.76
    •  
  • 2021 Buckley Trail Snellville, GA 5
    • 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1988
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
PROPERTY LISTING DETAILS
Whaley Property Group
1.770.634.3336
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6813035
Last Updated: 12/04/2020
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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