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2496 Gristhaven Lane Buford, GA 30519

4 Beds 3 Baths 2,559 sqft Built 2004

$285,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $111.37
  • 7 Days on Market
  • MLS # : 6828051
  • Updated Date : 01/23/2021 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,559 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

The family home in Buford that you have been looking for! This beautiful house with brand new updated kitchen, paint, and flooring shines with natural light, high ceilings, open concept feel, and neighborhood pool, tennis, playground and clubhouse! Don't miss out on this forever home!

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

PRICE & RENT TRENDS

Zip Code: 30519

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30519

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Freeman's Mill Elementary School Primary Regular 909 58 8
Twin Rivers Middle School Middle Regular 1,570 85 9
Mountain View High School High Regular 2,103 100 7

Freeman's Mill Elementary School

  • Education Level: Primary
  • # of students: 909
  • # of teachers: 58
8
GreatSchools Rating

Twin Rivers Middle School

  • Education Level: Middle
  • # of students: 1,570
  • # of teachers: 85
9
GreatSchools Rating

Mountain View High School

  • Education Level: High
  • # of students: 2,103
  • # of teachers: 100
7
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$990
Property Tax -$437
Property Insurance -$77
HOA -$50
Property Management Fees -$119
CASH FLOW
$108

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.

$285,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$19,564

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,791

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,7003$1,7804$1,8005$2,000
$2,000
RENT COMPS ANALYSIS
  • 2496 Gristhaven Lane Buford, GA 3
    • 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.70
    •  
  • 2470 Woodford Lane Buford, GA 1
    • 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 2004
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.68
    •  
  • 2537 Woodford Lane Buford, GA 2
    • 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 2005
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.69
    •  
  • 2395 Valley Mill Drive Buford, GA 4
    • 4 beds 3 baths ∙ 2,652 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,652 Sqft ∙ Built 2004
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.68
    •  
  • 2366 Morgan Estate Drive Buford, GA 5
    • 5 beds 3 baths ∙ 2,672 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,672 Sqft ∙ Built 2017
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
PROPERTY LISTING DETAILS
Ashley Albertson
1.678.408.0344
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828051
Last Updated: 01/23/2021
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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