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2898 Traddsprings Court Snellville, GA 30039

4 Beds 3 Baths 2,400 sqft Built 1994

$260,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $108.33
  • 2 Days on Market
  • MLS # : 6856141
  • Updated Date : 03/20/2021 at 23:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,400 sqft
  • Baths : 3 full
Listing Agent's Description

Great find in the heart of Snellville! Large ranch home with four bedrooms, three bathrooms, large family room with custom gable windows. Fourth bedroom has its own entrance and bathroom, Spacious master suite that leads to large master bathroom with custom tile shower. As if the interior of the home was not enough, this home is equipped with a completely fenced in backyard that is divided into a smaller side yard and then a much larger space. Ideal for pets. The larger portion has a custom built garage next to the pool.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30039

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200kPrice in $103k209k

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

Zip Code: 30039

ZipNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9251515

* 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
Norton Elementary School Primary Regular 1,141 73 6
Snellville Middle School Middle Regular 913 53 6
South Gwinnett High School High Regular 2,503 139 5

Norton Elementary School

  • Education Level: Primary
  • # of students: 1,141
  • # of teachers: 73
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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$903
Property Tax -$331
Property Insurance -$83
Property Management Fees -$119
CASH FLOW
$234

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.

$260,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.8%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$29,226

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,953

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,7003$1,9304$1,976
$1,976
RENT COMPS ANALYSIS
  • 2898 Traddsprings Court Snellville, GA 1
    • 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.58
    •  
  • 3718 White Pine Road Snellville, GA 2
    • 4 beds 3 baths ∙ 2,603 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,603 Sqft ∙ Built 2004
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.65
    •  
  • 2331 Temple View Court Snellville, GA 3
    • 5 beds 3 baths ∙ 2,796 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,796 Sqft ∙ Built 2005
    LEASED 01/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.69
    •  
  • 3742 Zoey Lee Drive Snellville, GA 4
    • 5 beds 3 baths ∙ 2,915 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,915 Sqft ∙ Built 2014
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,976
    • $0.68
    •  
PROPERTY LISTING DETAILS
Ed Aponte
1.404.840.8305
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6856141
Last Updated: 03/20/2021
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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