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2488 Samia Drive Duluth, GA 30096

3 Beds 3 Baths 1,704 sqft Built 1981

INVESTimate

$249,999

List Price

$1,490

$1,341 - $1,639

Rent Est.

$270,374  ( +8.15%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $146.71
  • 2 Days on Market
  • MLS # : 6771904
  • Updated Date : 08/25/2020 at 19:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,704 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Very hard to find, completely updated and remodeled ( with incredible quality for personal use ) 2 story home in best North-West Duluth. Conveniently located to I -85, close to Atlanta center and best Duluth schools. The huge corner lot also has a flat private oversized backyard with a new, nice wooden fence and stone covered patio. The house is very bright with plenty of natural light, modern luxury bathroom futures and remodeled, gourmet kitchen with beautiful granite countertops. This house is the best investment for your family's future.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 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
 

$224,999$274,999$249,999

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$922
Property Tax -$305
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$84

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.

$249,999

PROJECTED PRICE

$1,490

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.15%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,499
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$18,958

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,500

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4903$1,4904$1,5005$1,750
$1,750
RENT COMPS ANALYSIS
  • 2488 Samia Drive Duluth, 3
    • 3 beds 4 baths ∙ 1,704 Sqft ∙ Built 1981 3 beds 4 baths ∙ 1,704 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.87
    •  
  • 4064 Beaver Oaks Drive Duluth, 1
    • 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
    •  
  • 2517 Moorcroft Lane Duluth, 2
    • 3 beds 3 baths ∙ 1,663 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,663 Sqft ∙ Built 1999
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.90
    •  
  • 2457 Samia Drive Duluth, 4
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1984
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 2295 Berkeley Cove Court Duluth, 5
    • 4 beds 3 baths ∙ 1,836 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,836 Sqft ∙ Built 1996
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Igor Vazhenin
1.404.932.2228
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6771904
Last Updated: 08/25/2020
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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