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3155 Elizabeth Lane Snellville, GA 30078

4 Beds 3 Baths 2,760 sqft Built 1992

$270,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $97.83
  • 2 Days on Market
  • MLS # : 6856507
  • Updated Date : 03/20/2021 at 21:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,760 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This Beautiful Home Has 4BD/2.1 BA On Full Basement With Rocking Chair Front Porch Located In An Awesome Swim/Tennis Neighborhood! This Charming Home Situated On A Park- Like Fenced Lot Has Been Maintained to the Max! The Entrance Leads To A Picture Perfect Living Room With Lots Of Windows That Provide An Abundance Of Natural Lighting And Opens Up To The Elegant Dining Area!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$938
Property Tax -$283
Property Insurance -$80
HOA -$33
Property Management Fees -$119
CASH FLOW
$326

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.

$270,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.66%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$40,587

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,884

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6853$1,7454$1,7805$1,930
$1,930
RENT COMPS ANALYSIS
  • 3155 Elizabeth Lane Snellville, GA 4
    • 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.64
    •  
  • 2787 Kingstream Drive Snellville, GA 1
    • 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 1992
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.65
    •  
  • 3299 Summit Edge Court Loganville, GA 2
    • 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 1993
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.68
    •  
  • 2790 Freemont Street Snellville, GA 3
    • 4 beds 3 baths ∙ 2,461 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,461 Sqft ∙ Built 2009
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.71
    •  
  • 2331 Temple View Court Snellville, GA 5
    • 5 beds 3 baths ∙ 2,796 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,796 Sqft ∙ Built 2005
    LEASED 01/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.69
    •  
PROPERTY LISTING DETAILS
Scott Brown
1.770.639.6825
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6856507
Last Updated: 03/20/2021
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.

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