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3055 Lake Port Drive Snellville, GA 30039

4 Beds 3 Baths 2,662 sqft Built 2004

$280,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $105.18
  • 2 Days on Market
  • MLS # : 6852952
  • Updated Date : 03/13/2021 at 10:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,662 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Lots of sq footage, Big bedrooms, king size Master with Sitting Room, Large Kitchen and Keeping Room with see thru fireplace. Level backyard facing private air strip. Beautiful 2-story foyer at entrance.

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
Rosebud Elementary School Primary Regular 1,103 63 6
Grace Snell Middle School Middle Regular 1,151 69 6
South Gwinnett High School High Regular 2,503 139 5

Rosebud Elementary School

  • Education Level: Primary
  • # of students: 1,103
  • # of teachers: 63
6
GreatSchools Rating

Grace Snell Middle School

  • Education Level: Middle
  • # of students: 1,151
  • # of teachers: 69
6
GreatSchools Rating

South Gwinnett High School

  • Education Level: High
  • # of students: 2,503
  • # of teachers: 139
5
GreatSchools Rating
 

$252,000$308,000$280,000

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 -$973
Property Tax -$357
Property Insurance -$79
HOA -$13
Property Management Fees -$119
CASH FLOW
$131

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.

$280,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.8%
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-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$19,854

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
  • $0.63

    LIST RENT PER SQFT
  • $1,737

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,6704$1,7005$1,976
$1,976
RENT COMPS ANALYSIS
  • 3055 Lake Port Drive Snellville, GA 3
    • 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.63
    •  
  • 3887 Spy Glass Circle Snellville, GA 1
    • 3 beds 2 baths ∙ 2,370 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,370 Sqft ∙ Built 2000
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.61
    •  
  • 2752 Saddle Horn Place Snellville, GA 2
    • 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 2004
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.67
    •  
  • 3718 White Pine Road Snellville, GA 4
    • 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
    •  
  • 3742 Zoey Lee Drive Snellville, GA 5
    • 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
Shafeeq Phillips
1.678.793.0024
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6852952
Last Updated: 03/13/2021
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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