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3194 Craig Drive Duluth, GA 30096

3 Beds 2 Baths 1,860 sqft Built 1971

$325,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $174.73
  • 3 Days on Market
  • MLS # : 6833155
  • Updated Date : 01/30/2021 at 22:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,860 sqft
  • Baths : 2 full
Listing Agent's Description

Don't miss this stunning 4 sides brick ranch within walking distance of downtown Duluth. Completely renovated in the last several years. New energy efficient windows, newer roof. New cabinets and corian counter tops in the kitchen with new flooring and tile backsplash as well as stainless steel appliances and large breakfast area. Fresh paint throughout the inside. Hall bath features a gorgeous renovation with tile shower and frameless shower door. New double vanity with quartz counter tops. New tile floors and oversized soaking tub. New fixtures and mirrors as well.

SEE MORE

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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)
  • #1 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: Duluth

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k330k

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

Neighborhood: Duluth

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100220023002400Rent in $9732417

* 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
Chattahoochee Elementary School Primary Regular 1,248 79 9
Coleman Middle School Middle Unknown NA
Duluth High School High Regular 2,675 142 7

Chattahoochee Elementary School

  • Education Level: Primary
  • # of students: 1,248
  • # of teachers: 79
9
GreatSchools Rating

Coleman Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Duluth High School

  • Education Level: High
  • # of students: 2,675
  • # of teachers: 142
7
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,129
Property Tax -$354
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$75

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.

$325,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$21,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,748

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,4953$1,6004$1,6005$1,740
$1,740
RENT COMPS ANALYSIS
  • 3194 Craig Drive Duluth, GA 5
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.94
    •  
  • 3637 Chattahoochee Court Duluth, GA 1
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1985
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.88
    •  
  • 3835 Mason Drive Duluth, GA 2
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1972
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
  • 3357 Montheath Pass Duluth, GA 3
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1986
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 3605 Darwin Place Duluth, GA 4
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1991
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
PROPERTY LISTING DETAILS
David Dutton
1.770.596.0713
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6833155
Last Updated: 01/30/2021
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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