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2535 Turtle Terrace Grayson, GA 30017

3 Beds 2 Baths 1,581 sqft Built 2001

INVESTimate

$230,000

List Price

$1,350

$1,215 - $1,485

Rent Est.

$244,260  ( +6.20%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $145.48
  • 10 Days on Market
  • MLS # : 6762710
  • Updated Date : 08/25/2020 at 11:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,581 sqft
  • Baths : 2 full
Listing Agent's Description

Cozy ranch home in Grayson schools! With a spacious family room, the kitchen has a bay window eat-in area, granite countertops, tile backsplash, stainless steel appliances, separate dining room, the owner's suite has a tray ceiling, and secondary bedrooms are a split bedroom plan. Finished bonus room, two-car garage, fenced backyard, and large screened-in porch to enjoy morning coffee or a quiet evening. Don't miss the opportunity to make this house your home.

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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: 30017

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30017

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
Grayson Elementary School Primary Regular 831 59 9
Bay Creek Middle School Middle Regular 1,079 56 7
Grayson High School High Regular 2,767 155 7

Grayson Elementary School

  • Education Level: Primary
  • # of students: 831
  • # of teachers: 59
9
GreatSchools Rating

Bay Creek Middle School

  • Education Level: Middle
  • # of students: 1,079
  • # of teachers: 56
7
GreatSchools Rating

Grayson High School

  • Education Level: High
  • # of students: 2,767
  • # of teachers: 155
7
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$849
Property Tax -$240
Property Insurance -$58
HOA -$8
Property Management Fees -$119
CASH FLOW
$76

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.

$230,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.20%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$20,717

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,364

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3503$1,4754$1,5655$1,595
$1,595
RENT COMPS ANALYSIS
  • 2535 Turtle Terrace Grayson, 2
    • 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 2007 Walden Park Drive Snellville, 1
    • 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1986
    property image
    LEASED 02/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.84
    •  
  • 3129 Fairview Drive Snellville, 3
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1986
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.88
    •  
  • 2041 Hutton Drive Grayson, 4
    • 4 beds 3 baths ∙ 1,808 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,808 Sqft ∙ Built 1986
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.87
    •  
  • 2021 Buckley Trail Snellville, 5
    • 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1988
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
PROPERTY LISTING DETAILS
Rockey Fields
1.678.793.8825
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6762710
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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