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3110 Little Forest Court Snellville, GA 30078

4 Beds 1 Baths 1,392 sqft Built 1991

$155,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $111.35
  • 4 Days on Market
  • MLS # : 6827859
  • Updated Date : 01/15/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,392 sqft
  • Baths : 1 full
Listing Agent's Description

Calling All Investors! Whether you're looking to flip and sell, or add a rental income property, this home is for you! Would also be a great home for someone who wants to fix it up and make it their own. NEWER ROOF, NEWER HVAC, AND NEWER EXTERIOR PAINT! Mainly cosmetic repairs needed. Downstairs is stubbed for a second bath and would be an easy install!. This is a steal of a deal! SOLD AS IS!

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MARKET HIGHLIGHTS

  • #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).
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Zip Code: 30078

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200kPrice in $103k209k

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

Zip Code: 30078

ZipNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9671564

* 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
Britt Elementary School Primary Regular 585 38 6
Snellville Middle School Middle Regular 913 53 6
South Gwinnett High School High Regular 2,503 139 5

Britt Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 38
6
GreatSchools Rating

Snellville Middle School

  • Education Level: Middle
  • # of students: 913
  • # of teachers: 53
6
GreatSchools Rating

South Gwinnett High School

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

$139,500$170,500$155,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$538
Property Tax -$163
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$396

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.

$155,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,825

INVESTMENT

$46,825

Down Payment
$38,750
Rehab Estimate
$5,750
Closing Costs
$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$538

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

15.25

YEARS SAVED

$38,950

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,239

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3493$1,4004$1,475
$1,475
RENT COMPS ANALYSIS
  • 3110 Little Forest Court Snellville, GA 1
    • 4 beds 1 baths ∙ 1,392 Sqft ∙ Built 1991 4 beds 1 baths ∙ 1,392 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.91
    •  
  • 1767 Summit Creek Way Loganville, GA 2
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1999
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.89
    •  
  • 2054 Skyland Glen Drive Snellville, GA 3
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1982
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 3129 Fairview Drive Snellville, GA 4
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1986
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.88
    •  
PROPERTY LISTING DETAILS
Laura A Mango
1.770.294.7394
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6827859
Last Updated: 01/15/2021
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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