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3108 Devauden Court Duluth, GA 30096

4 Beds 3 Baths 2,184 sqft Built 2004

$320,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $146.52
  • 7 Days on Market
  • MLS # : 6802355
  • Updated Date : 11/01/2020 at 14:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,184 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

DO NOT MISS THIS OPPORTUNITY! Beautiful Move in Ready Home in Strathmoor Subdivision with sidewalk access to Downtown Duluth (approx 1 mile, 15 mins walking distance) close to shops, restaurants, live music and more and few minutes to I-85. Strathmoor is a beautiful neighborhood with homes situated around small green area with a Gazebo. An unfinished basement with ENDLESS possibilities, also has hookup to add an extra bathroom downstairs. New roof installed March of 2019. Ecobee thermostats and AT&T Fiber.

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

Neighborhood: Duluth

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k330k

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

Neighborhood: Duluth

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100220023002400Rent in $9732417

* 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
Harris Elementary School Primary Regular 867 58 7
Duluth Middle School Middle Regular 2,039 117 7
Duluth High School High Regular 2,675 142 7

Harris Elementary School

  • Education Level: Primary
  • # of students: 867
  • # of teachers: 58
7
GreatSchools Rating

Duluth Middle School

  • Education Level: Middle
  • # of students: 2,039
  • # of teachers: 117
7
GreatSchools Rating

Duluth High School

  • Education Level: High
  • # of students: 2,675
  • # of teachers: 142
7
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,181
Property Tax -$349
Property Insurance -$69
HOA -$48
Property Management Fees -$119
CASH FLOW
-$66

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.

$320,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.2%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,889

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,835

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,8504$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 3108 Devauden Court Duluth, GA 1
    • 4 beds 3 baths ∙ 2,184 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,184 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.78
    •  
  • 3247 Wyesham Circle Duluth, GA 2
    • 3 beds 3 baths ∙ 2,287 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,287 Sqft ∙ Built 2004
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.77
    •  
  • 3071 Harris Mill Court Duluth, GA 3
    • 4 beds 3 baths ∙ 2,171 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,171 Sqft ∙ Built 2001
    property image
    LEASED 11/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 3333 Orono Drive Duluth, GA 4
    • 4 beds 4 baths ∙ 2,521 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,521 Sqft ∙ Built 2015
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 3035 Saint Andrews Drive Duluth, GA 5
    • 5 beds 4 baths ∙ 2,300 Sqft ∙ Built 1987 5 beds 4 baths ∙ 2,300 Sqft ∙ Built 1987
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
PROPERTY LISTING DETAILS
Alexia Wright
1.770.329.0548
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6802355
Last Updated: 11/01/2020
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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