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2424 Rhoanoke Drive Duluth, GA 30096

3 Beds 3 Baths 1,572 sqft Built 1982

$225,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $143.13
  • 4 Days on Market
  • MLS # : 6808191
  • Updated Date : 11/13/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,572 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

A great opportunity; convenient location; no HOA! A two story, three bedroom, two and a half bath home on a beautiful half acre lot. Spacious family room with an inviting fireplace and separate dining room. Kitchen includes a breakfast area. Three large bedrooms on the second floor. The master suite features a walk-in closet and updated bathroom. The level lot and backyard is perfect for outdoor activities, entertaining, or relaxing. Conveniently located close to I-85, Pleasant Hill Rd, shopping, and dining!

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: 30096

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $103k330k

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

Zip Code: 30096

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732087

* 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
Charles Brant Chesney Elementary School Primary Regular 1,155 86 6
Duluth Middle School Middle Regular 2,039 117 7
Duluth High School High Regular 2,675 142 7

Charles Brant Chesney Elementary School

  • Education Level: Primary
  • # of students: 1,155
  • # of teachers: 86
6
GreatSchools Rating

Duluth Middle School

  • Education Level: Middle
  • # of students: 2,039
  • # of teachers: 117
7
GreatSchools Rating

Duluth High School

  • Education Level: High
  • # of students: 2,675
  • # of teachers: 142
7
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$830
Property Tax -$274
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$99

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.

$225,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.2%
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$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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$19,248

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,427

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,4503$1,4504$1,6005$1,620
$1,620
RENT COMPS ANALYSIS
  • 2424 Rhoanoke Drive Duluth, GA 1
    • 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.88
    •  
  • 4064 Beaver Oaks Drive Duluth, GA 2
    • 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 1995
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 4041 Megan Road Duluth, GA 3
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1986
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 4033 Oak Glenn Drive Duluth, GA 4
    • 3 beds 3 baths ∙ 1,706 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,706 Sqft ∙ Built 1996
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
  • 4005 Oak Glenn Drive Duluth, GA 5
    • 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1994
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.93
    •  
PROPERTY LISTING DETAILS
Todd Lemoine
1.404.310.9992
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808191
Last Updated: 11/13/2020
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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