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2522 Augustus Drive Duluth, GA 30097

3 Beds 2 Baths 1,700 sqft Built 1979

$254,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $149.94
  • 3 Days on Market
  • MLS # : 6811062
  • Updated Date : 11/21/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent's Description

RUN, don’t walk, to this immaculately maintained home in Duluth. Updates everywhere! Quartz counters, stainless steel appliances, new flooring just to name a few. Boasting 3 bedrooms and 2 baths this home does not lack the space you need to entertain. Nice level lot, award-winning schools, and just minutes from Downtown Duluth. This is 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)
  • 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)
  • 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

Neighborhood: Duluth

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $113k437k

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

Neighborhood: Duluth

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100220023002400Rent in $9732417

* 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
M. H. Mason Elementary School Primary Regular 899 66 8
Hull Middle School Middle Regular 1,275 86 9
Peachtree Ridge High School High Regular 3,211 163 8

M. H. Mason Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 66
8
GreatSchools Rating

Hull Middle School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 86
9
GreatSchools Rating

Peachtree Ridge High School

  • Education Level: High
  • # of students: 3,211
  • # of teachers: 163
8
GreatSchools Rating
 

$229,410$280,390$254,900

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 -$940
Property Tax -$278
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$83

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.

$254,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.2%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$22,755

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
  • $0.87

    LIST RENT PER SQFT
  • $1,619

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,4953$1,6004$1,6005$1,800
$1,800
RENT COMPS ANALYSIS
  • 2522 Augustus Drive Duluth, GA 1
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.87
    •  
  • 3835 Mason Drive Duluth, GA 2
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1972
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
  • 2935 Norman Circle Duluth, GA 3
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1978
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 3357 Montheath Pass Duluth, GA 4
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1986
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 3930 Lake Lanier Drive Duluth, GA 5
    • 4 beds 3 baths ∙ 1,982 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,982 Sqft ∙ Built 1996
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
PROPERTY LISTING DETAILS
Tyler Walton
1.770.364.5952
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6811062
Last Updated: 11/21/2020
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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