Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3131 Millington Place Duluth, GA 30096

3 Beds 3 Baths 1,696 sqft Built 2005

$195,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $114.98
  • 4 Days on Market
  • MLS # : 6844494
  • Updated Date : 02/26/2021 at 20:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,696 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

A well-maintained 3 bedroom + 2.5 bath end unit townhome in a perfect Duluth location! Home features hardwood floors throughout the main level, cozy kitchen, separate dining room, and family room with gas fireplace. On the second level, a large master bedroom with ensuite master bathroom, along two well-appointed bedrooms, another full bath, and laundry. The property is topped off with a garage and back patio with privacy fence. Gated community with club house and swimming pool. Ideal location near retail, restaurants, and more, with easy access to I-85!

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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30096

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $103k330k

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

Zip Code: 30096

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732087

* 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
Ferguson Elementary School Primary Regular 962 74 5
Louise Radloff Middle School Middle Regular 1,833 117 5
Meadowcreek High School High Regular 3,548 172 3

Ferguson Elementary School

  • Education Level: Primary
  • # of students: 962
  • # of teachers: 74
5
GreatSchools Rating

Louise Radloff Middle School

  • Education Level: Middle
  • # of students: 1,833
  • # of teachers: 117
5
GreatSchools Rating

Meadowcreek High School

  • Education Level: High
  • # of students: 3,548
  • # of teachers: 172
3
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$677
Property Tax -$245
Property Insurance -$60
HOA -$230
Property Management Fees -$119
CASH FLOW
$139

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.

$195,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.2%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$14,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,476

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,4903$1,5504$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 3131 Millington Place Duluth, GA 1
    • 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.87
    •  
  • 2517 Moorcroft Lane Duluth, GA 2
    • 3 beds 3 baths ∙ 1,663 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,663 Sqft ∙ Built 1999
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.90
    •  
  • 2865 Briaroak Drive Duluth, GA 3
    • 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 2004
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 2955 Briaroak Drive Duluth, GA 4
    • 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 2004
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 1983 Executive Drive Duluth, GA 5
    • 3 beds 3 baths ∙ 1,943 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,943 Sqft ∙ Built 2005
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
PROPERTY LISTING DETAILS
Helen Kynes
1.404.939.2137
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6844494
Last Updated: 02/26/2021
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.

BESbswy