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3690 Sugar Creek Lane Se Conyers, GA 30094

4 Beds 3 Baths 2,471 sqft Built 1978

$184,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $74.83
  • 7 Days on Market
  • MLS # : 6806617
  • Updated Date : 11/10/2020 at 15:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,471 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Highest and Best due 11/16 @ 11am. This property cannot go FHA or VA. Buyer would have to do a 203K/Renovation loan and take on all repairs required for loan. Please take note. Lovely corner lot traditional four bedroom split level home with 2 full bathrooms and a half bathroom for guests. The family room offers a fire place, and has an open concept floor plan with the kitchen. Upstairs you have four large bedrooms, and two full bathrooms. The home offers hardwoods, carpet, and a large unfinished basement. This deal won't last long!! Equal Housing Opportunity.

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

Neighborhood: Honey Creek

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $90k209k

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

Neighborhood: Honey Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290095010001050110011501200125013001350140014501500Rent in $8631521

* 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
Honey Creek Elementary School Primary Regular 596 38 5
Edwards Middle School Middle Regular 885 59 5
Heritage High School High Regular 1,814 86 5

Honey Creek Elementary School

  • Education Level: Primary
  • # of students: 596
  • # of teachers: 38
5
GreatSchools Rating

Edwards Middle School

  • Education Level: Middle
  • # of students: 885
  • # of teachers: 59
5
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students: 1,814
  • # of teachers: 86
5
GreatSchools Rating
 

$166,410$203,390$184,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$682
Property Tax -$211
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$633

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.

$184,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.93%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,749

INVESTMENT

$54,749

Down Payment
$46,225
Rehab Estimate
$5,750
Closing Costs
$2,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,225
Loan Amount $138,675
See What Happens When You Reinvest Cash Flow

17.33

YEARS SAVED

$62,549

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,705

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,5353$1,6004$1,720
$1,720
RENT COMPS ANALYSIS
  • 3690 Sugar Creek Lane Se Conyers, GA 4
    • 4 beds 3 baths ∙ 2,471 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,471 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.70
    •  
  • 1038 Duke Drive Conyers, GA 1
    • 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 1972 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 1972
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.64
    •  
  • 2950 Camary Place Drive Conyers, GA 2
    • 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1991
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.69
    •  
  • 3712 Jolane Terrace Se Conyers, GA 3
    • 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 1988
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.74
    •  
PROPERTY LISTING DETAILS
Stew Team
1.770.439.9999
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6806617
Last Updated: 11/10/2020
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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