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3318 Abbey Way Gainesville, GA 30507

3 Beds 3 Baths 1,596 sqft Built 2021

$210,400

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $131.83
  • 3 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,596 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tobin

Listing Agent's Description

NOTTINGHAM FLOOR PLAN - Charming townhouse in up and coming townhome community. This 3 bedroom and two and a half bathroom townhome is perfect for almost any buyer! This home features a large master suite and two spacious guest bedrooms on the top floor accompanied by the laundry room for quick and easy access. The main level features garage level entry into the carefully crafted and open concept floor plan. This home features exquisitely crafted 36" hardwood cabinets and Cown molding on the main level. This lovely home at this price will not last long.

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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

Zip Code: 30507

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190kPrice in $78k200k

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

Zip Code: 30507

ZipNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350Rent in $9431383

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$189,360$231,440$210,400

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$731
Property Tax -$173
Property Insurance -$56
HOA -$130
Property Management Fees -$119
CASH FLOW
$441

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$210,400

PROJECTED PRICE

$1,650

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.79%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 3.00%
Vacancy 8.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,756

INVESTMENT

$57,756

Down Payment
$52,600
Rehab Estimate
$2,000
Closing Costs
$3,156

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$731

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,600
Loan Amount $157,800
See What Happens When You Reinvest Cash Flow

14.17

YEARS SAVED

$50,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Mynd
Tobin
BESbswy