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3140 Gallery Walk Snellville, GA 30039

3 Beds 2 Baths 1,908 sqft Built 1999

$240,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $125.79
  • 3 Days on Market
  • MLS # : 6825231
  • Updated Date : 01/09/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,908 sqft
  • Baths : 2 full
Listing Agent's Description

This is a clean, well kept/upgraded spacious home. In the established County Club of Gwinnett community. Includes 3 bedrooms and 2 bath. Hardwood Floors throughout the house. And HVAC is only 2 years old. Minutes away from Hwy 78 and Stone Mountain Park. There is golf course in the subdivision NOT included in HOA.

SEE MORE

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).
  • #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)
  • 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: 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
Norton Elementary School Primary Regular 1,141 73 6
Snellville Middle School Middle Regular 913 53 6
South Gwinnett High School High Regular 2,503 139 5

Norton Elementary School

  • Education Level: Primary
  • # of students: 1,141
  • # of teachers: 73
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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$834
Property Tax -$306
Property Insurance -$64
HOA -$44
Property Management Fees -$119
CASH FLOW
$184

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.

$240,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.65%

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

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$22,846

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,565

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3753$1,4954$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 3140 Gallery Walk Snellville, GA 5
    • 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 3319 Mansfield Lane Snellville, GA 1
    • 4 beds 2 baths ∙ 1,583 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,583 Sqft ∙ Built 1985
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 3490 Andrea Lee Court Snellville, GA 2
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1986
    property image
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.86
    •  
  • 3056 Boulder Creek Road Snellville, GA 3
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2003
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.78
    •  
  • 2985 Glynn Mill Court Snellville, GA 4
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 1987
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
PROPERTY LISTING DETAILS
Asad Mohammed
1.404.399.3786
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6825231
Last Updated: 01/09/2021
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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