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3945 Berkeley View Drive Berkeley Lake, GA 30096

3 Beds 3 Baths 2,841 sqft Built 1994

$430,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $151.36
  • 3 Days on Market
  • MLS # : 6818359
  • Updated Date : 12/12/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,841 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Come make this well maintained home in popular Berkeley Lake neighborhood your own.Master on main with his/hers closets, large bathroom, separate living room could serve as an office, oversized family room with lots of natural light, white kitchen w/granite countertops, & spacious laundry room. Upstairs. are 2 large bedrooms & full bath.There is also additional space that would make a wonderful toy room, online learning space, extra den, or add a door & it becomes another bedroom!Enjoy all that Berkeley Lake has to offer with plenty of shopping and restaurants close by.

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Berkeley Lake

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k482k

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

Neighborhood: Berkeley Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9732542

* 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
Berkeley Lake Elementary School Primary Regular 1,148 73 7
Duluth Middle School Middle Regular 2,039 117 7
Duluth High School High Regular 2,675 142 7

Berkeley Lake Elementary School

  • Education Level: Primary
  • # of students: 1,148
  • # of teachers: 73
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
 

$387,000$473,000$430,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,587
Property Tax -$438
Property Insurance -$82
HOA -$72
Property Management Fees -$119
CASH FLOW
-$118

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.

$430,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.1%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$15,215

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,903

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7504$1,8505$2,180
$2,180
RENT COMPS ANALYSIS
  • 3945 Berkeley View Drive Berkeley Lake, GA 5
    • 3 beds 3 baths ∙ 2,841 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,841 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.77
    •  
  • 3955 Bimini Cove Duluth, GA 1
    • 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 1991
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.64
    •  
  • 3955 Genoa Court Duluth, GA 2
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 1990
    LEASED 06/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.68
    •  
  • 2765 Shelter Cove Duluth, GA 3
    • 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1991
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.69
    •  
  • 4730 Avocet Drive Peachtree Corners, GA 4
    • 4 beds 3 baths ∙ 2,775 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,775 Sqft ∙ Built 1995
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.67
    •  
PROPERTY LISTING DETAILS
Gretchen Ozburn
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6818359
Last Updated: 12/12/2020
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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