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3193 English Ivy Lane Ne Buford, GA 30519

5 Beds 3 Baths 2,768 sqft Built 1998

INVESTimate

$267,050

List Price

$1,680

$1,512 - $1,848

Rent Est.

$285,824  ( +7.03%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $96.48
  • 6 Days on Market
  • MLS # : 6770271
  • Updated Date : 08/24/2020 at 14:08
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,768 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

RARE 5 bedroom/2.5 bath home on a large level lot in a cul-de-sac, privately fenced back yard in highly sought after Mill Creek Cluster!! Close to Lake Lanier and Mall of Ga and many more!! Investment home, "As-Is";. HVAC is 1 year old. Great home for first time home buyer who wants to live in the home and make repairs towards their dream home, or first time investment property or AIRBNB. Needs minor cosmetics, carpet and paint. Priced to sell, make an offer-motivated seller!!!

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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

Zip Code: 30519

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30519

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Harmony Elementary School Primary Regular 585 36 9
Glenn C. Jones Middle School Middle Regular 1,362 74 9
Mill Creek High School High Regular 3,780 191 9

Harmony Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 36
9
GreatSchools Rating

Glenn C. Jones Middle School

  • Education Level: Middle
  • # of students: 1,362
  • # of teachers: 74
9
GreatSchools Rating

Mill Creek High School

  • Education Level: High
  • # of students: 3,780
  • # of teachers: 191
9
GreatSchools Rating
 

$240,345$293,755$267,050

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$985
Property Tax -$409
Property Insurance -$81
HOA -$35
Property Management Fees -$119
CASH FLOW
$51

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.

$267,050

PROJECTED PRICE

$1,680

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.03%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,518

INVESTMENT

$76,518

Down Payment
$66,763
Rehab Estimate
$5,750
Closing Costs
$4,006

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$985

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,763
Loan Amount $200,288
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$17,554

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,709

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6753$1,6804$1,7005$1,900
$1,900
RENT COMPS ANALYSIS
  • 3193 English Ivy Lane Ne Buford, 3
    • 5 beds 3 baths ∙ 2,768 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,768 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.61
    •  
  • 3765 Bradford Walk Trail Buford, 1
    • 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 2000
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.63
    •  
  • 3560 Bogan Mill Road Buford, 2
    • 4 beds 3 baths ∙ 2,772 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,772 Sqft ∙ Built 2004
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.60
    •  
  • 3457 Edenridge Court Buford, 4
    • 4 beds 3 baths ∙ 2,871 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,871 Sqft ∙ Built 2011
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.59
    •  
  • 3676 Rosecliff Trace Buford, 5
    • 4 beds 3 baths ∙ 2,905 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,905 Sqft ∙ Built 2006
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.65
    •  
PROPERTY LISTING DETAILS
Judy Abercrombie
1.770.789.5379
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770271
Last Updated: 08/24/2020
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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