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2420 Walnut Grove Way Suwanee, GA 30024

4 Beds 2 Baths 1,890 sqft Built 1996

$269,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $142.80
  • 3 Days on Market
  • MLS # : 6808223
  • Updated Date : 11/28/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,890 sqft
  • Baths : 2 full
Listing Agent's Description

Beautiful Home which offers 4 good size bedrooms and 2 full bath. House is well taken care of. Amazing friendly neighborhood. Walk to parks, trails, playgrounds...etc. New windows replaced 11/2020. New Paint, refinished hardwood floor 09/2020 - New master bathroom done 07/2020 Seller holds an active GA real estate license.

SEE MORE

MARKET HIGHLIGHTS

  • 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 has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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: 30024

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k373k

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

Zip Code: 30024

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9732129

* 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
Walnut Grove Elementary School Primary Regular 903 60 8
Creekland Middle School Middle Regular 2,157 129 6
Collins Hill High School High Regular 3,148 157 8

Walnut Grove Elementary School

  • Education Level: Primary
  • # of students: 903
  • # of teachers: 60
8
GreatSchools Rating

Creekland Middle School

  • Education Level: Middle
  • # of students: 2,157
  • # of teachers: 129
6
GreatSchools Rating

Collins Hill High School

  • Education Level: High
  • # of students: 3,148
  • # of teachers: 157
8
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$996
Property Tax -$319
Property Insurance -$64
HOA -$42
Property Management Fees -$119
CASH FLOW
$50

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.

$269,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.3%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$19,283

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,640

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,5754$1,5905$1,595
$1,595
RENT COMPS ANALYSIS
  • 2420 Walnut Grove Way Suwanee, GA 4
    • 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.84
    •  
  • 2789 Sterling Drive Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1989
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 385 Paris Drive Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1991
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 645 Paris Drive Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1989
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.88
    •  
  • 2430 Arbour Trace Terrace Suwanee, GA 5
    • 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 1986
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
PROPERTY LISTING DETAILS
Adilka Veras
1.770.557.7157
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808223
Last Updated: 11/28/2020
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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