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2485 Maple Street Snellville, GA 30078

3 Beds 2 Baths 2,001 sqft Built 1975

$249,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $124.44
  • 3 Days on Market
  • MLS # : 6828522
  • Updated Date : 01/16/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,001 sqft
  • Baths : 2 full
Listing Agent's Description

Adorable four-sided brick ranch on over an acre in downtown Snellville! This home is just perfect for first time buyers or a retiring couple. Nice flat corner lot with driveway and garage around back. Rocking chair front porch greets you and leads to formal foyer,sprawling living room and dining room w/ fabulous ornate chandelier. Cozy great room with massive stone fireplace and wood burning stove. Exposed beams on cathedral ceiling complete the look. Large kitchen with breakfast room and secretary. Lots of counter space, cabinets and pantry. Master and two adjacent

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: 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
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$865
Property Tax -$261
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$79

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.

$249,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.56%

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$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$865

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$15,837

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,431

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3903$1,5454$1,5505$1,575
$1,575
RENT COMPS ANALYSIS
  • 2485 Maple Street Snellville, GA 2
    • 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 1975 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.69
    •  
  • 2443 Raven Wood Court Snellville, GA 1
    • 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 1977
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.62
    •  
  • 3086 Hidden Forest Drive Snellville, GA 3
    • 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
    •  
  • 1948 Walden Park Drive Snellville, GA 4
    • 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1993
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
  • 3030 Hampton Ridge Way Snellville, GA 5
    • 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1985
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.72
    •  
PROPERTY LISTING DETAILS
Traci Avers
1.404.276.8000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828522
Last Updated: 01/16/2021
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. © 2017 First Multiple Listing Service, Inc.

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