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3900 Gloucester Drive Tucker, GA 30084

3 Beds 2 Baths 1,321 sqft Built 1965

INVESTimate

$275,000

List Price

$1,540

$1,386 - $1,694

Rent Est.

$295,103  ( +7.31%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1965
  • Price/Sqft : $208.18
  • 7 Days on Market
  • MLS # : 6761886
  • Updated Date : 08/21/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,321 sqft
  • Baths : 2 full
Listing Agent's Description

Sought-after brick ranch in the trendy City of Tucker. The large level corner lot will win you over before even taking a setp inside! The updated kitchen with granite counter tops and new appliances, updated hall bath, refinished hardwoods, fresh paint, fenced back yard and stone patio will check all the boxes on your wishlist. Updates include a newer roof and HVAC system. Located in a fantastic and friendly, walkable neighborhood, this updated home won't disappoint! Easy access to schools, shopping, restaurants, Emory, CDC CHOA and downtown Tucker.

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

Neighborhood: Tucker

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Tucker

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Brockett Elementary School Primary Regular 481 31 7
Tucker Middle School Middle Regular 1,259 80 6
Tucker High School High Regular 1,843 107 5

Brockett Elementary School

  • Education Level: Primary
  • # of students: 481
  • # of teachers: 31
7
GreatSchools Rating

Tucker Middle School

  • Education Level: Middle
  • # of students: 1,259
  • # of teachers: 80
6
GreatSchools Rating

Tucker High School

  • Education Level: High
  • # of students: 1,843
  • # of teachers: 107
5
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,015
Property Tax -$372
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$18

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.

$275,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.31%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$13,857

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,540
$1,540
RENT COMPS ANALYSIS
  • 3900 Gloucester Drive Tucker,
    • 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.17
    •  
PROPERTY LISTING DETAILS
Joshua Wallace
1.678.591.9245
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6761886
Last Updated: 08/21/2020
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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