Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2417 Redfield Drive Norcross, GA 30071

3 Beds 2 Baths 1,461 sqft Built 1981

$245,900

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $168.31
  • 2 Days on Market
  • MLS # : 6808173
  • Updated Date : 11/14/2020 at 09:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,461 sqft
  • Baths : 2 full
Listing Agent's Description

Great new list recently renovated 3br/2ba ranch home with 2-car garage, large back patio and private fenced backyard. New A/C 2020, new water heater 2017, kitchen cabinets and counters 2017, newer windows, interior doors, all new hardwood, carpet, interior paint doors, walls and trim 11/2020. Great location to mall and interstate to live or invest. Washer Dryer/ refrig included. No HOA no restrictions. Owner/Agent.

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)
  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30071

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30071

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8171623

* 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
Beaver Ridge Elementary School Primary Regular 1,300 89 5
Summerour Middle School Middle Regular 1,561 101 5
Norcross High School High Regular 3,738 204 5

Beaver Ridge Elementary School

  • Education Level: Primary
  • # of students: 1,300
  • # of teachers: 89
5
GreatSchools Rating

Summerour Middle School

  • Education Level: Middle
  • # of students: 1,561
  • # of teachers: 101
5
GreatSchools Rating

Norcross High School

  • Education Level: High
  • # of students: 3,738
  • # of teachers: 204
5
GreatSchools Rating
 

$221,310$270,490$245,900

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 -$907
Property Tax -$346
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$57

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$245,900

PROJECTED PRICE

$1,370

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$70,914

INVESTMENT

$70,914

Down Payment
$61,475
Rehab Estimate
$5,750
Closing Costs
$3,689

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$907

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,475
Loan Amount $184,425
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$4,699

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
  • $0.94

    LIST RENT PER SQFT
  • $1,392

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,3953$1,5004$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 2417 Redfield Drive Norcross, GA 1
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.94
    •  
  • 5165 Falconwood Court Norcross, GA 2
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1978
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
  • 2697 Shetland Lane Duluth, GA 3
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1982
    property image
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
  • 2630 Cambridge Park Drive Duluth, GA 4
    • 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1997
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
  • 4917 Royal Drive Duluth, GA 5
    • 3 beds 4 baths ∙ 1,600 Sqft ∙ Built 1982 3 beds 4 baths ∙ 1,600 Sqft ∙ Built 1982
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
Blair A Anderson
1.678.427.7225
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808173
Last Updated: 11/14/2020
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.

BESbswy