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3058 Lara Court Snellville, GA 30039

3 Beds 2 Baths 1,698 sqft Built 1983

$215,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $126.62
  • 2 Days on Market
  • MLS # : 6829013
  • Updated Date : 01/16/2021 at 21:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,698 sqft
  • Baths : 2 full
Listing Agent's Description

Don't miss this meticulously maintained 3 bdr/2bath charmer on cul-de-sac, on over half acre! Boasts new interior/exterior paint, new driveway, new SS appliances, new carpet, and new flooring in baths/laundry! Bright and airy living room, with large windows offering natural light throughout, flows into eat-in kitchen, with island offering additional counter top/seating! Spacious master features en suite and walk-in closet! Lower level boasts laundry, and gorgeous stone fireplace in large second living area! This space offers plenty of additional room for office,

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 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)
  • 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)

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
Partee Elementary School Primary Regular 717 50 6
Shiloh Middle School Middle Regular 1,844 112 6
Shiloh High School High Regular 2,238 126 4

Partee Elementary School

  • Education Level: Primary
  • # of students: 717
  • # of teachers: 50
6
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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$747
Property Tax -$274
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$130

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.

$215,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.62%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$18,098

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,363

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3303$1,3454$1,3495$1,600
$1,600
RENT COMPS ANALYSIS
  • 3058 Lara Court Snellville, GA 2
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.78
    •  
  • 3788 September Way Snellville, GA 1
    • 4 beds 2 baths ∙ 1,708 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,708 Sqft ∙ Built 1985
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.76
    •  
  • 3524 Exeter Court Snellville, GA 3
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1975
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.82
    •  
  • 3800 Menloe Way Snellville, GA 4
    • 4 beds 2 baths ∙ 1,662 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,662 Sqft ∙ Built 1984
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.81
    •  
  • 3971 Rocmar Drive Snellville, GA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Lindsay Hembree
1.678.749.9887
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6829013
Last Updated: 01/16/2021
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. © 2017 First Multiple Listing Service, Inc.

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