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2990 Victoria Park Drive Buford, GA 30519

4 Beds 3 Baths 2,390 sqft Built 2004

$275,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $115.06
  • 3 Days on Market
  • MLS # : 6804550
  • Updated Date : 11/07/2020 at 13:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,390 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Meticulously maintained 4 BR/2.5 BA home with thoughtful upgrades is move-in ready, and features an Owner’s Suite on Main with a bonus room upstairs. Hardwoods throughout the main level. Kitchen features granite countertops, SS appliances, pantry, an island, and a breakfast area open to the fireside family room. The separate formal dining room is great for entertaining and gatherings. Main level offers two secondary bedrooms.

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: 30519

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30519

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Ivy Creek Elementary School Primary Regular 916 52 8
Glenn C. Jones Middle School Middle Regular 1,362 74 9
Mill Creek High School High Regular 3,780 191 9

Ivy Creek Elementary School

  • Education Level: Primary
  • # of students: 916
  • # of teachers: 52
8
GreatSchools Rating

Glenn C. Jones Middle School

  • Education Level: Middle
  • # of students: 1,362
  • # of teachers: 74
9
GreatSchools Rating

Mill Creek High School

  • Education Level: High
  • # of students: 3,780
  • # of teachers: 191
9
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,015
Property Tax -$421
Property Insurance -$73
HOA -$19
Property Management Fees -$119
CASH FLOW
-$17

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.

$275,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$12,812

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,787

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6503$1,6504$1,8005$1,950
$1,950
RENT COMPS ANALYSIS
  • 2990 Victoria Park Drive Buford, GA 1
    • 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.68
    •  
  • 3010 Victoria Park Drive Buford, GA 2
    • 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 2004
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 3482 Cascade Ive Drive Buford, GA 3
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1999
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 3124 Milloak Court Buford, GA 4
    • 3 beds 2 baths ∙ 2,296 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,296 Sqft ∙ Built 2003
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 3110 Hampton Bay Cove Buford, GA 5
    • 5 beds 3 baths ∙ 2,432 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,432 Sqft ∙ Built 2006
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
PROPERTY LISTING DETAILS
The Regan Maki Team
1.404.304.6452
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6804550
Last Updated: 11/07/2020
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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