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2942 Weston Brook Lane Duluth, GA 30096

3 Beds 3 Baths 1,618 sqft Built 1992

INVESTimate

$236,900

List Price

$1,410

$1,269 - $1,551

Rent Est.

$256,207  ( +8.15%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $146.42
  • 2 Days on Market
  • MLS # : 6770926
  • Updated Date : 08/25/2020 at 23:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,618 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautifully renovated 3 Nice size bedrooms/2.5 baths, in great Duluth location. Hardwood floors, Open Floor Plan, High Ceilings, Lots of Space. Fenced backyard with nice deck and patio. No HOA

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: 30096

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $103k330k

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

Zip Code: 30096

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732087

* 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
Kanoheda Elementary School Primary Regular 1,072 82 7
Sweetwater Middle School Middle Regular 1,980 117 5
Berkmar High School High Regular 3,439 198 4

Kanoheda Elementary School

  • Education Level: Primary
  • # of students: 1,072
  • # of teachers: 82
7
GreatSchools Rating

Sweetwater Middle School

  • Education Level: Middle
  • # of students: 1,980
  • # of teachers: 117
5
GreatSchools Rating

Berkmar High School

  • Education Level: High
  • # of students: 3,439
  • # of teachers: 198
4
GreatSchools Rating
 

$213,210$260,590$236,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$874
Property Tax -$289
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$70

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.

$236,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.15%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,529

INVESTMENT

$68,529

Down Payment
$59,225
Rehab Estimate
$5,750
Closing Costs
$3,554

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$874

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,225
Loan Amount $177,675
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$17,059

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,400

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4103$1,4504$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 2942 Weston Brook Lane Duluth, 2
    • 3 beds 3 baths ∙ 1,618 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,618 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.87
    •  
  • 1220 Holly Circle Lawrenceville, 1
    • 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 1985
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.91
    •  
  • 1231 Oak Arbour Avenue Lawrenceville, 3
    • 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1989
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 2972 Weston Brook Lane Duluth, 4
    • 3 beds 3 baths ∙ 1,778 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,778 Sqft ∙ Built 1992
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 1341 Sweet Woods Drive Lawrenceville, 5
    • 3 beds 3 baths ∙ 1,797 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,797 Sqft ∙ Built 1988
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
PROPERTY LISTING DETAILS
Debbie Condon
1.678.776.0461
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770926
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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