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2562 Plum Street Snellville, GA 30078

3 Beds 2 Baths 2,115 sqft Built 1977

$245,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $115.84
  • 3 Days on Market
  • MLS # : 6820275
  • Updated Date : 12/19/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,115 sqft
  • Baths : 2 full
Listing Agent's Description

Lovely, well-built home on a gorgeous fenced level lot! 3/2 with space to expand for a 4th bedroom, bonus, or media room. Rocking chair front porch and sunroom with terrazzo tile! Large mud room off the kitchen, built-ins, 4 sides brick, hardwood floors and so much more!

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)
  • 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)
  • #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)

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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$904
Property Tax -$257
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$52

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.

$245,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.57%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$16,473

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,433

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2903$1,4004$1,5505$1,575
$1,575
RENT COMPS ANALYSIS
  • 2562 Plum Street Snellville, GA 3
    • 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.66
    •  
  • 2443 Raven Wood Court Snellville, GA 1
    • 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 1977
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.62
    •  
  • 2625 Hickory Valley Drive Snellville, GA 2
    • 3 beds 2 baths ∙ 2,129 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,129 Sqft ∙ Built 1973
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.61
    •  
  • 1948 Walden Park Drive Snellville, GA 4
    • 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1993
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
  • 3030 Hampton Ridge Way Snellville, GA 5
    • 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1985
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.72
    •  
PROPERTY LISTING DETAILS
Catherine Odonnell
1.770.377.0606
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820275
Last Updated: 12/19/2020
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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