Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2695 The Terraces Way Dacula, GA 30019

3 Beds 2 Baths 2,416 sqft Built 1998

$324,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $134.11
  • 3 Days on Market
  • MLS # : 6831084
  • Updated Date : 01/23/2021 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,416 sqft
  • Baths : 2 full
Listing Agent's Description

This immaculate ranch on a golf course lot features hardwood floors, granite countertops, spacious bedrooms, lofty ceilings, a formal dining area, family room with fireplace, living room and upgrades inside and outside the home. Recent upgrades include newly sodded back yard overlooking the golf course, new stainless steel appliances, new double doors leading to the back yard, new smart lock and thermostat, new carpet in bedrooms, new paint throughout the house. Neighborhood has three pools, tennis courts, playground & clubhouse. Near shopping, schools and amenities.

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Neighborhood: Apalachee Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Apalachee Farms

NeighborhoodNIR 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
Dacula Elementary School Primary Regular 1,284 72 7
Dacula Middle School Middle Regular 1,617 87 8
Dacula High School High Regular 1,944 100 7

Dacula Elementary School

  • Education Level: Primary
  • # of students: 1,284
  • # of teachers: 72
7
GreatSchools Rating

Dacula Middle School

  • Education Level: Middle
  • # of students: 1,617
  • # of teachers: 87
8
GreatSchools Rating

Dacula High School

  • Education Level: High
  • # of students: 1,944
  • # of teachers: 100
7
GreatSchools Rating
 

$291,600$356,400$324,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,125
Property Tax -$393
Property Insurance -$74
HOA -$67
Property Management Fees -$119
CASH FLOW
-$38

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.

$324,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
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-$4.0k-$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$91,610

INVESTMENT

$91,610

Down Payment
$81,000
Rehab Estimate
$5,750
Closing Costs
$4,860

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,000
Loan Amount $243,000
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$11,429

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,776

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7403$1,7504$1,8005$1,820
$1,820
RENT COMPS ANALYSIS
  • 2695 The Terraces Way Dacula, GA 2
    • 3 beds 2 baths ∙ 2,416 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,416 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.72
    •  
  • 2895 The Terraces Way Dacula, GA 1
    • 4 beds 4 baths ∙ 2,320 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,320 Sqft ∙ Built 1997
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.69
    •  
  • 935 Tributary Way Dacula, GA 3
    • 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2000
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.74
    •  
  • 2544 Apalachee Run Way Dacula, GA 4
    • 3 beds 3 baths ∙ 2,359 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,359 Sqft ∙ Built 2001
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 840 Charles Hall Drive Dacula, GA 5
    • 3 beds 2 baths ∙ 2,428 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,428 Sqft ∙ Built 2001
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.75
    •  
PROPERTY LISTING DETAILS
Derek Spain
1.770.776.8411
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831084
Last Updated: 01/23/2021
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.

BESbswy