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3553 Citrus Drive Duluth, GA 30096

3 Beds 3 Baths 2,210 sqft Built 1975

$305,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $138.01
  • 2 Days on Market
  • MLS # : 6837383
  • Updated Date : 02/06/2021 at 21:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,210 sqft
  • Baths : 3 full
Listing Agent's Description

Check out this beautiful Split-Level home with many upgrades. Newer roof, HVAC, Hardwood Floors, New Range and Dishwasher and Granite Countertops. This home features 2 Large Bedrooms and Bath upstairs and 1 bedroom downstairs. Home offers a lot of privacy with a perfect level Yard.

SEE MORE

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: 30096

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $103k330k

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

Zip Code: 30096

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732087

* 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
Harris Elementary School Primary Regular 867 58 7
Duluth Middle School Middle Regular 2,039 117 7
Duluth High School High Regular 2,675 142 7

Harris Elementary School

  • Education Level: Primary
  • # of students: 867
  • # of teachers: 58
7
GreatSchools Rating

Duluth Middle School

  • Education Level: Middle
  • # of students: 2,039
  • # of teachers: 117
7
GreatSchools Rating

Duluth High School

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

$274,500$335,500$305,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,059
Property Tax -$372
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$80

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.

$305,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$17,283

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,818

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7254$1,7505$1,860
$1,860
RENT COMPS ANALYSIS
  • 3553 Citrus Drive Duluth, GA 2
    • 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1975 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.77
    •  
  • 3799 Shadow Ridge Court Duluth, GA 1
    • 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 1982 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 1982
    property image
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 3010 Scepter Drive Duluth, GA 3
    • 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
    •  
  • 2600 Garland Way Duluth, GA 4
    • 4 beds 3 baths ∙ 2,057 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,057 Sqft ∙ Built 1987
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 3788 Shadow Ridge Court Duluth, GA 5
    • 3 beds 3 baths ∙ 2,168 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,168 Sqft ∙ Built 1983
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.86
    •  
PROPERTY LISTING DETAILS
Amanda Cuccia Ortiz
1.404.808.5514
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837383
Last Updated: 02/06/2021
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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