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3880 Lake Pass Lane Suwanee, GA 30024

3 Beds 3 Baths 2,256 sqft Built 2005

$318,499

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $141.18
  • 3 Days on Market
  • MLS # : 6815461
  • Updated Date : 12/05/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,256 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful Craftsman cluster home in highly sought after Suwanee Station. Great Community with Beautiful Clubhouse Swim, Tennis and so many activities. Close to so many restaurants and shopping. Fall in love w/ this home as soon as you enter into the 2 story foyer, hardwoods lead you into the sitting area, dining & the grand 2 story family room. Kitchen opens up to the family room. The master suite completes the main. 2 large bedrooms upstairs share a jack-n-jill bath.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Burnette Elementary School Primary Regular 705 50 9
Hull Middle School Middle Regular 1,275 86 9
Peachtree Ridge High School High Regular 3,211 163 8

Burnette Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 50
9
GreatSchools Rating

Hull Middle School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 86
9
GreatSchools Rating

Peachtree Ridge High School

  • Education Level: High
  • # of students: 3,211
  • # of teachers: 163
8
GreatSchools Rating
 

$286,649$350,349$318,499

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,175
Property Tax -$340
Property Insurance -$71
HOA -$157
Property Management Fees -$119
CASH FLOW
-$61

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.

$318,499

PROJECTED PRICE

$1,800

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,152

INVESTMENT

$90,152

Down Payment
$79,625
Rehab Estimate
$5,750
Closing Costs
$4,777

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,175

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,625
Loan Amount $238,874
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,810

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,850

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8004$1,8505$2,200
$2,200
RENT COMPS ANALYSIS
  • 3880 Lake Pass Lane Suwanee, GA 3
    • 3 beds 3 baths ∙ 2,256 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,256 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.80
    •  
  • 1430 Highland Farm Drive Suwanee, GA 1
    • 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 1999
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 3734 Baxley Point Drive Suwanee, GA 2
    • 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 2006
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 4070 Brushy Creek Way Suwanee, GA 4
    • 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1998
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 1859 Bethel Trace Suwanee, GA 5
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2015
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
PROPERTY LISTING DETAILS
Donna Cochran
1.404.937.9154
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815461
Last Updated: 12/05/2020
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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