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2581 Garland Way Duluth, GA 30096

3 Beds 3 Baths 1,745 sqft Built 1987

$279,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $160.40
  • 6 Days on Market
  • MLS # : 6844092
  • Updated Date : 02/26/2021 at 08:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,745 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Completely recently updated 3 bedroom 2.5 bath, hardwood flooring throughout the main level, stainless steel appliances in the kitchen with granite counter top, new light fixtures, specious vaulted great room with cozy brick fireplace, new garage doors, best school system. Hurry , it will not last long. Please show only 11 AM to 5. The sellers do not provide seller's property disclosure for this property and buyer can inspect during due diligence period and there are no HOA.

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)
  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30096

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $103k330k

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

Zip Code: 30096

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732087

* 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
Charles Brant Chesney Elementary School Primary Regular 1,155 86 6
Duluth Middle School Middle Regular 2,039 117 7
Duluth High School High Regular 2,675 142 7

Charles Brant Chesney Elementary School

  • Education Level: Primary
  • # of students: 1,155
  • # of teachers: 86
6
GreatSchools Rating

Duluth Middle School

  • Education Level: Middle
  • # of students: 2,039
  • # of teachers: 117
7
GreatSchools Rating

Duluth High School

  • Education Level: High
  • # of students: 2,675
  • # of teachers: 142
7
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$972
Property Tax -$341
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$77

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.

$279,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.2%
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$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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$16,210

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,601

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5704$1,5705$1,600
$1,600
RENT COMPS ANALYSIS
  • 2581 Garland Way Duluth, GA 4
    • 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.90
    •  
  • 4041 Megan Road Duluth, GA 1
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1986
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 2260 Berkeley Creek Court Duluth, GA 2
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1992
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 3987 Oak Glenn Drive Duluth, GA 3
    • 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 1993
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.91
    •  
  • 2630 Garland Way Duluth, GA 5
    • 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 1986
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
PROPERTY LISTING DETAILS
Seyed Ehteshami
1.404.660.5626
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6844092
Last Updated: 02/26/2021
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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