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2529 Britt Road Snellville, GA 30078

3 Beds 2 Baths 1,566 sqft Built 1965

$220,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $140.49
  • 3 Days on Market
  • MLS # : 6837211
  • Updated Date : 02/06/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,566 sqft
  • Baths : 2 full
Listing Agent's Description

Charming ranch style brick home on a quiet street. Open floor plan with ample square footage and spacious bedrooms. Family room features a fireplace and opens up to the kitchen and dining area. Gorgeous updated kitchen with breakfast bar, stainless steel appliances, white cabinets and striking backsplash. Neutral interior paint throughout. Peaceful green backyard features a muscadine tree. Room to entertain on the patio slab. Close to entertainment and shopping. This residence checks all the boxes.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$764
Property Tax -$231
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$149

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.

$220,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.60%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$20,837

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,402

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3753$1,550
$1,550
RENT COMPS ANALYSIS
  • 2529 Britt Road Snellville, GA 1
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.84
    •  
  • 2936 Gwinnstone Circle Snellville, GA 2
    • 4 beds 2 baths ∙ 1,506 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,506 Sqft ∙ Built 1978
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.91
    •  
  • 2183 Timber Lane Snellville, GA 3
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 1969
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.88
    •  
PROPERTY LISTING DETAILS
Teka Walker
1.770.595.3558
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837211
Last Updated: 02/06/2021
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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