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3221 Milstead Walk Way Buford, GA 30519

5 Beds 3 Baths 2,588 sqft Built 1999

$319,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $123.61
  • 2 Days on Market
  • MLS # : 6831680
  • Updated Date : 01/23/2021 at 19:53
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,588 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Multiple Offers Received*** HIGHEST & BEST BIDS DUE BY 5:30 PM 1/24/2021*** Nicest home in the neighborhood. Not an exaggeration. Newly remodeled kitchen w/quartz counters, tile backsplash, lighting, & Electrolux stainless appliances. New LVP gray flooring throughout the main. 4 bedrooms upstairs with newer carpet. Great finished basement with a rec room, media room & bedroom or office. Water heater & garage door new in 2017. New flooring on the top two floors in 2018. Kitchen remodeled in 2019. 2 new HVAC systems in 2020. New Roof, gutters & downspouts in 2020.

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)
  • #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)

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
Ivy Creek Elementary School Primary Regular 916 52 8
Glenn C. Jones Middle School Middle Regular 1,362 74 9
Mill Creek High School High Regular 3,780 191 9

Ivy Creek Elementary School

  • Education Level: Primary
  • # of students: 916
  • # of teachers: 52
8
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
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,111
Property Tax -$490
Property Insurance -$77
HOA -$11
Property Management Fees -$119
CASH FLOW
-$59

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.

$319,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,328

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7504$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 3221 Milstead Walk Way Buford, GA 3
    • 5 beds 3 baths ∙ 2,588 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,588 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.68
    •  
  • 3227 Garden Valley Court Dacula, GA 1
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2006
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.66
    •  
  • 3482 Cascade Ive Drive Buford, GA 2
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1999
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 3200 Morgan Road Buford, GA 4
    • 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 2017
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.67
    •  
  • 2153 Stancil Point Drive Dacula, GA 5
    • 4 beds 4 baths ∙ 2,472 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,472 Sqft ∙ Built 2008
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.75
    •  
PROPERTY LISTING DETAILS
Susan Mobbs Kliesen
1.404.510.1988
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831680
Last Updated: 01/23/2021
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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