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2664 Abington Drive Snellville, GA 30078

3 Beds 2 Baths 1,933 sqft Built 1972

$229,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $118.47
  • 5 Days on Market
  • MLS # : 6824743
  • Updated Date : 01/07/2021 at 13:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,933 sqft
  • Baths : 2 full
Listing Agent's Description

Fall in love with the grassy backyard and spacious patio of this charming 3 bedroom, 2 bathroom home of Abington Park. Entering the home, you'll find a cozy living room with a beautiful brick fireplace. In the kitchen, enjoy ample cabinet space to store your cooking and baking supplies! The primary bedroom offers great natural light and an essential en suite bathroom with a tiled shower. The true gem of this home is the screened-in patio in the backyard, which will make the perfect spot for entertaining or relaxing in the evenings. Be sure not to miss out on this one!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 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
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$795
Property Tax -$240
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$301

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.

$229,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.66%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$795

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$37,385

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,377

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,5003$1,5204$1,5455$1,575
$1,575
RENT COMPS ANALYSIS
  • 2664 Abington Drive Snellville, GA 3
    • 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.79
    •  
  • 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
    •  
  • 1994 Rockdale Circle Snellville, GA 2
    • 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 1988
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.75
    •  
  • 3086 Hidden Forest Drive Snellville, GA 4
    • 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 1974
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $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
Michelle Sanders
1.678.884.7933
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6824743
Last Updated: 01/07/2021
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. © 2017 First Multiple Listing Service, Inc.

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