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3258 Chelsea Court Duluth, GA 30096

3 Beds 2 Baths 2,261 sqft Built 1976

$327,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $144.63
  • 4 Days on Market
  • MLS # : 6836469
  • Updated Date : 02/05/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,261 sqft
  • Baths : 2 full
Listing Agent's Description

Charming ranch home on a quiet cul-de-sac with a new driveway and sidewalk! This home offers 3 bedrooms and 2 full bathrooms. The stunning updated kitchen has quartz counters, stainless appliances, a breakfast bar, ample sunlight, new vent hood, coffee bar and a view to the family room. The warm and cozy family room offers an elegant stone fireplace with wall lighting, perfect for warming up, on those cold Georgia winter days and nights. Bamboo flooring throughout the main level. Divine master bedroom with attached master bathroom equipped with double sinks. A

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MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 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
M. H. Mason Elementary School Primary Regular 899 66 8
Hull Middle School Middle Regular 1,275 86 9
Peachtree Ridge High School High Regular 3,211 163 8

M. H. Mason Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 66
8
GreatSchools Rating

Hull Middle School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 86
9
GreatSchools Rating

Peachtree Ridge High School

  • Education Level: High
  • # of students: 3,211
  • # of teachers: 163
8
GreatSchools Rating
 

$294,300$359,700$327,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,136
Property Tax -$356
Property Insurance -$71
HOA -$30
Property Management Fees -$119
CASH FLOW
$8

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.

$327,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.53%

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

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$92,405

INVESTMENT

$92,405

Down Payment
$81,750
Rehab Estimate
$5,750
Closing Costs
$4,905

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,136

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,750
Loan Amount $245,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$15,744

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,865

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6504$1,7205$1,995
$1,995
RENT COMPS ANALYSIS
  • 3258 Chelsea Court Duluth, GA 4
    • 3 beds 2 baths ∙ 2,261 Sqft ∙ Built 1976 3 beds 2 baths ∙ 2,261 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.76
    •  
  • 3117 Meadow Lark Drive Duluth, GA 1
    • 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 1968 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 1968
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 3082 Bromley Rowe Duluth, GA 2
    • 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1976
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 2791 Whippoorwill Circle Duluth, GA 3
    • 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 1990
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 3025 Dogwood Creek Parkway Duluth, GA 5
    • 3 beds 2 baths ∙ 2,291 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,291 Sqft ∙ Built 1995
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.87
    •  
PROPERTY LISTING DETAILS
Laura Smith
1.404.966.0042
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6836469
Last Updated: 02/05/2021
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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