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3391 Longfield Drive Snellville, GA 30039

4 Beds 3 Baths 2,351 sqft Built 1992

$339,960

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $144.60
  • 1 Days on Market
  • MLS # : 6913952
  • Updated Date : 07/13/2021 at 06:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,351 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

FABULOUS OPPORTUNITY AWAITS! FOUR BEDROOM TWO & ONE HALF BATH PLUS HUGE BONUS ROOM. FORMAL LIVING ROOM, DINING ROOM & FIRESIDE FAMILY ROOM W/BUILT-INS. KITCHEN BOASTS NATURAL STAINED CABINETS, BREAKFAST BAR & OPENS TO FAMILY ROOM & BREAKFAST AREA. LAUNDRY CONVENIENTLY LOCATED ON MAIN LEVEL. ALL BEDROOM & BONUS ROOMS ARE UPSTAIRS. MATURE WOODED BACK YARD IS PARTIALLY FENCED & PRIVATE. SIT ON BACK DECK & RELAX. ALL NEW CARPET UPSTAIRS, TILE FLOORING ON MAIN LEVELS AND BATHROOMS, NEW HARDY BLANK SIDING RECENTLY INSTALLED AND PAINTED, HOUSE HAS BEEN RECENTLY PAINTED IN/OUT.

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 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)
  • #1 Most affordable big city (WalletHub, 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'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)

PRICE & RENT TRENDS

Zip Code: 30039

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200kPrice in $103k209k

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

Zip Code: 30039

ZipNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9251515

* 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
Norton Elementary School Primary Regular 1,141 73 6
Snellville Middle School Middle Regular 913 53 6
South Gwinnett High School High Regular 2,503 139 5

Norton Elementary School

  • Education Level: Primary
  • # of students: 1,141
  • # of teachers: 73
6
GreatSchools Rating

Snellville Middle School

  • Education Level: Middle
  • # of students: 913
  • # of teachers: 53
6
GreatSchools Rating

South Gwinnett High School

  • Education Level: High
  • # of students: 2,503
  • # of teachers: 139
5
GreatSchools Rating
 

$305,964$373,956$339,960

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,181
Property Tax -$357
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$41

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.

$339,960

PROJECTED PRICE

$1,770

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$95,839

INVESTMENT

$95,839

Down Payment
$84,990
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,990
Loan Amount $254,970
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$16,534

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,734

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,6503$1,7704$1,8105$1,895
$1,895
RENT COMPS ANALYSIS
  • 3391 Longfield Drive Snellville, GA 3
    • 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.75
    •  
  • 3086 Hidden Forest Drive Snellville, GA 1
    • 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 1974
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.76
    •  
  • 2787 Kingstream Drive Snellville, GA 2
    • 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 1992
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.65
    •  
  • 2965 Lenora Springs Drive Snellville, GA 4
    • 3 beds 3 baths ∙ 2,374 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,374 Sqft ∙ Built 1998
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.76
    •  
  • 3860 Carriage Downs Court Snellville, GA 5
    • 3 beds 3 baths ∙ 2,442 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,442 Sqft ∙ Built 2000
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
PROPERTY LISTING DETAILS
Peter Hanna
1.678.978.0757
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6913952
Last Updated: 07/13/2021
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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