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3330 Chartwell Place Suwanee, GA 30024

5 Beds 4 Baths 2,772 sqft Built 1996

$397,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $143.22
  • 3 Days on Market
  • MLS # : 6808081
  • Updated Date : 11/13/2020 at 20:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,772 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Amazing Lambert HS Beauty! 5 Bedrooms! 3.5 Baths! In-Law Suite with Kitchen Bedrm & Media Room! Formal Dining Rm! Oversized Family Rm with Bookcases & Fireplace! Windows and Sunlight abound in the Kitchen and Breakfast Rm! Smart Technology SS Range! SS Db Side Refrigerator! White Cabinets with Granite Countertops! Bookcases! Deck Covering overlooking private backyard! Large Master Suite! Master Bath has Jetted Bath & Db Vanities! New Roof! Ready to Move In! Swim/ Tennis! Convenient! Home vacant. Easy to Show. Be sure to lock and leave a card.

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)
  • #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)
  • #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)

PRICE & RENT TRENDS

Zip Code: 30024

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k373k

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

Zip Code: 30024

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9732129

* 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
Sharon Elementary School Primary Regular 1,075 55 8
South Forsyth Middle School Middle Regular 1,193 66 9
Lambert High School High Regular 2,741 143 10

Sharon Elementary School

  • Education Level: Primary
  • # of students: 1,075
  • # of teachers: 55
8
GreatSchools Rating

South Forsyth Middle School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 66
9
GreatSchools Rating

Lambert High School

  • Education Level: High
  • # of students: 2,741
  • # of teachers: 143
10
GreatSchools Rating
 

$357,300$436,700$397,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,465
Property Tax -$327
Property Insurance -$81
HOA -$38
Property Management Fees -$119
CASH FLOW
$31

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.

$397,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.3%
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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,955

INVESTMENT

$110,955

Down Payment
$99,250
Rehab Estimate
$5,750
Closing Costs
$5,955

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,465

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,250
Loan Amount $297,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$27,004

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,121

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0603$2,0954$2,1505$2,250
$2,250
RENT COMPS ANALYSIS
  • 3330 Chartwell Place Suwanee, GA 2
    • 5 beds 4 baths ∙ 2,772 Sqft ∙ Built 1996 5 beds 4 baths ∙ 2,772 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.74
    •  
  • 3380 Ashton Drive Suwanee, GA 1
    • 5 beds 4 baths ∙ 2,566 Sqft ∙ Built 1994 5 beds 4 baths ∙ 2,566 Sqft ∙ Built 1994
    property image
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
  • 3135 The Commons Drive Cumming, GA 3
    • 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2003
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.83
    •  
  • 635 Glenish Court Suwanee, GA 4
    • 5 beds 3 baths ∙ 2,798 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,798 Sqft ∙ Built 2015
    property image
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
  • 550 Elder View Court Suwanee, GA 5
    • 5 beds 3 baths ∙ 3,057 Sqft ∙ Built 2013 5 beds 3 baths ∙ 3,057 Sqft ∙ Built 2013
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.74
    •  
PROPERTY LISTING DETAILS
Teresa Johnson
1.404.861.2788
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808081
Last Updated: 11/13/2020
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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