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

2868 Langford Commons Drive Norcross, GA 30071

4 Beds 4 Baths 2,099 sqft Built 2001

INVESTimate

$259,000

List Price

$1,750

$1,575 - $1,925

Rent Est.

$283,501  ( +9.46%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $123.39
  • 6 Days on Market
  • MLS # : 6767414
  • Updated Date : 08/25/2020 at 14:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,099 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Wonderrful Townhome in very desirable Historic Norcross Community. Well maintained 4 Bed 3.5 Bath (incl fin bsmnt). Hardwood floors, private Deck, 2 car garage and finished basement. Furnace and HVAC 2 years old, fresh paint. Large family room with fireplace, separate dining room. Lots of storage. Near Downtown Historic Norcross and shopping at the Forum. parks and recreation facilities nearby. LOW HOA FEES!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Norcross

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Norcross

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $8172702

* 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
Norcross Elementary School Primary Regular 1,175 76 5
Summerour Middle School Middle Regular 1,561 101 5
Norcross High School High Regular 3,738 204 5

Norcross Elementary School

  • Education Level: Primary
  • # of students: 1,175
  • # of teachers: 76
5
GreatSchools Rating

Summerour Middle School

  • Education Level: Middle
  • # of students: 1,561
  • # of teachers: 101
5
GreatSchools Rating

Norcross High School

  • Education Level: High
  • # of students: 3,738
  • # of teachers: 204
5
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$956
Property Tax -$303
Property Insurance -$68
HOA -$130
Property Management Fees -$119
CASH FLOW
$175

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$259,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.46%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$20,140

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,800

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,8654$1,9005$1,995
$1,995
RENT COMPS ANALYSIS
  • 2868 Langford Commons Drive Norcross, 2
    • 4 beds 4 baths ∙ 2,099 Sqft ∙ Built 2001 4 beds 4 baths ∙ 2,099 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
  • 5335 Locomotive Lane Norcross, 1
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2004
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
  • 5779 Chatham Circle Norcross, 3
    • 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 2007
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $0.85
    •  
  • 5488 Boyer Trail Norcross, 4
    • 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2012
    property image
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
  • 5478 Boyer Trail Norcross, 5
    • 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 2010
    property image
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.88
    •  
PROPERTY LISTING DETAILS
Jonathan Bennett
1.404.290.2413
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6767414
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.

BESbswy