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2478 Windmere Drive Norcross, GA 30071

3 Beds 2 Baths 1,537 sqft Built 1970

$234,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $152.83
  • 4 Days on Market
  • MLS # : 6855899
  • Updated Date : 03/20/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,537 sqft
  • Baths : 2 full
Listing Agent's Description

Ready to move in 4 sided split level brick home with a open lot and a huge backyard in a no HOA subdivision. The home has very good day light with a new cook top, new interior paint, and a long spacious driveway. Located very close to exit 101 off I85 near Lowe's and easy access to Buford Highway.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Norcross Elementary School Primary Regular 1,175 76 5
Summerour Middle School Middle Regular 1,561 101 5
Norcross High School High Regular 3,738 204 5

Norcross Elementary School

  • Education Level: Primary
  • # of students: 1,175
  • # of teachers: 76
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
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$816
Property Tax -$330
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$158

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.

$234,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.63%

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$200k$400k$600k$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$16,446

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,502

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4603$1,4804$1,5005$1,600
$1,600
RENT COMPS ANALYSIS
  • 2478 Windmere Drive Norcross, GA 3
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.96
    •  
  • 5165 Falconwood Court Norcross, GA 1
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1978
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
  • 2472 Westhill Court Norcross, GA 2
    • 4 beds 2 baths ∙ 1,450 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,450 Sqft ∙ Built 1976
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.01
    •  
  • 2697 Shetland Lane Duluth, GA 4
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1982
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
  • 4917 Royal Drive Duluth, GA 5
    • 3 beds 4 baths ∙ 1,600 Sqft ∙ Built 1982 3 beds 4 baths ∙ 1,600 Sqft ∙ Built 1982
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
Hieu Nguyen
1.678.704.6520
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6855899
Last Updated: 03/20/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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