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2879 Beddington Way Suwanee, GA 30024

4 Beds 3 Baths 2,286 sqft Built 1994

INVESTimate

$265,000

List Price

$1,750

$1,575 - $1,925

Rent Est.

$281,669  ( +6.29%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $115.92
  • 3 Days on Market
  • MLS # : 6771668
  • Updated Date : 08/25/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,286 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

If you're looking for space to really stretch out, you've found it in this spacious 4 bedroom, 2 and 1/2 bath home. The first floor features a living room, dining room, and eat in kitchen which overlooks the family room. The laundry is located in the mud room, and of course, there is a half bath. Upstairs you will find all 4 bedrooms including the oversized master suite with sitting area. The master bath features separate vanities, as well as a soaking tub, and shower. The fenced in back yard offers a wonderful outdoor retreat.

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

Zip Code: 30024

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k373k

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

Zip Code: 30024

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9732129

* 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
Walnut Grove Elementary School Primary Regular 903 60 8
Creekland Middle School Middle Regular 2,157 129 6
Collins Hill High School High Regular 3,148 157 8

Walnut Grove Elementary School

  • Education Level: Primary
  • # of students: 903
  • # of teachers: 60
8
GreatSchools Rating

Creekland Middle School

  • Education Level: Middle
  • # of students: 2,157
  • # of teachers: 129
6
GreatSchools Rating

Collins Hill High School

  • Education Level: High
  • # of students: 3,148
  • # of teachers: 157
8
GreatSchools Rating
 

$238,500$291,500$265,000

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

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$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$978
Property Tax -$340
Property Insurance -$71
HOA -$58
Property Management Fees -$119
CASH FLOW
$184

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.

$265,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.29%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$31,691

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
  • $0.77

    LIST RENT PER SQFT
  • $1,795

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7504$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 2879 Beddington Way Suwanee, 5
    • 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.77
    •  
  • 2400 Compton Place Suwanee, 1
    • 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1993
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 2440 Fosters Mill Court Suwanee, 2
    • 3 beds 3 baths ∙ 2,159 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,159 Sqft ∙ Built 1994
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 2460 Compton Place Suwanee, 3
    • 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1992
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
  • 720 Welford Road Suwanee, 4
    • 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 1992
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
PROPERTY LISTING DETAILS
Mark Spain
1.770.886.9000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6771668
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.

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