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3435 Palisade Lake Drive Duluth, GA 30096

3 Beds 3 Baths 2,268 sqft Built 1994

$310,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $136.68
  • 2 Days on Market
  • MLS # : 6830785
  • Updated Date : 01/23/2021 at 10:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,268 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Renovated 2 Story Home open floor plan, new kitchen with granite counter tops, remodeled bathrooms and Patio, new siding and fenced yard. Separate living and dinning room allow you the ability to create memorable times with family and friends, hardwood in entire house. Excellent location walking distance to Duluth High, close to shopping and medical offices. The property is upgraded with a new bricks at the front. Enjoy the summer in this amazing house, seller is very motivated.

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

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
Chattahoochee Elementary School Primary Regular 1,248 79 9
Coleman Middle School Middle Regular NA
Duluth High School High Regular 2,675 142 7

Chattahoochee Elementary School

  • Education Level: Primary
  • # of students: 1,248
  • # of teachers: 79
9
GreatSchools Rating

Coleman Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Duluth High School

  • Education Level: High
  • # of students: 2,675
  • # of teachers: 142
7
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,077
Property Tax -$338
Property Insurance -$71
HOA -$33
Property Management Fees -$119
CASH FLOW
$102

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.

$310,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.56%

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$22,489

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,735

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7403$1,7504$1,7505$1,825
$1,825
RENT COMPS ANALYSIS
  • 3435 Palisade Lake Drive Duluth, GA 2
    • 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.77
    •  
  • 3010 Scepter Drive Duluth, GA 1
    • 3 beds 3 baths ∙ 2,296 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,296 Sqft ∙ Built 1995
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.75
    •  
  • 3700 Palisade Park Drive Duluth, GA 3
    • 3 beds 3 baths ∙ 2,282 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,282 Sqft ∙ Built 1993
    property image
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.77
    •  
  • 3339 Benthollow Lane Duluth, GA 4
    • 3 beds 3 baths ∙ 2,337 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,337 Sqft ∙ Built 1997
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 3624 Willbrooke Run Duluth, GA 5
    • 3 beds 3 baths ∙ 2,304 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,304 Sqft ∙ Built 1998
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.79
    •  
PROPERTY LISTING DETAILS
Cesar Suarez
1.770.310.1639
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6830785
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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