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

2985 Cordite Loop Snellville, GA 30039

4 Beds 4 Baths 2,173 sqft Built 1987

$277,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $127.47
  • 7 Days on Market
  • MLS # : 6843451
  • Updated Date : 02/25/2021 at 15:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,173 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Beautiful home in historic Snellville will not last long! Brand new paint, inside and out. New luxury flooring, updated appliances. Recently maintenanced HVAC. Laundry hookup on main level and in finished basement. Landscaped with fresh wood chips for aesthetics & safety. In-law suite with full kitchen and full bath. Open bright floor plan with huge family room and screened porch. Come see this gorgeous cul-de-sac lot located in a quiet family neighborhood.

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)
  • 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)
  • 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)

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
Centerville Elementary School Primary Regular 741 47 5
Shiloh Middle School Middle Regular 1,844 112 6
Shiloh High School High Regular 2,238 126 4

Centerville Elementary School

  • Education Level: Primary
  • # of students: 741
  • # of teachers: 47
5
GreatSchools Rating

Shiloh Middle School

  • Education Level: Middle
  • # of students: 1,844
  • # of teachers: 112
6
GreatSchools Rating

Shiloh High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 126
4
GreatSchools Rating
 

$249,300$304,700$277,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$962
Property Tax -$353
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$247

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.

$277,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.63%

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$18k

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$79,155

INVESTMENT

$79,155

Down Payment
$69,250
Rehab Estimate
$5,750
Closing Costs
$4,155

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$962

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,250
Loan Amount $207,750
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$31,403

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
  • $0.81

    LIST RENT PER SQFT
  • $1,744

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,6004$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 2985 Cordite Loop Snellville, GA 4
    • 4 beds 4 baths ∙ 2,173 Sqft ∙ Built 1987 4 beds 4 baths ∙ 2,173 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
  • 3056 Boulder Creek Road Snellville, GA 1
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2003
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.78
    •  
  • 2985 Glynn Mill Court Snellville, GA 2
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 1987
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 3971 Rocmar Drive Snellville, GA 3
    • 4 beds 3 baths ∙ 1,945 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,945 Sqft ∙ Built 1986
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
  • 2864 Ne Ashly Woods Ct Court Ne Snellville, GA 5
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2005
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.82
    •  
PROPERTY LISTING DETAILS
David A Williams
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6843451
Last Updated: 02/25/2021
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