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3949 Riverstone Drive Suwanee, GA 30024

5 Beds 4 Baths 2,023 sqft Built 1994

$290,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $143.35
  • 2 Days on Market
  • MLS # : 6820088
  • Updated Date : 12/19/2020 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,023 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Just in time for Christmas! If you have been thinking of buying a home in the Suwanee area this is the best opportunity to come along in quite a few months. Recently professionally painted and carpets deep cleaned this 4-bedroom house is ready to move in and enjoy. One of the larger homes in the RiverRun community with 4 bedrooms upstairs, you still have three finished areas in the basement for at home learning, work for home or to fashion your own gym or (person)cave. Great neighborhood convenient to shopping, schools, parks and major ingresses for the commute.

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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,070
Property Tax -$352
Property Insurance -$66
HOA -$33
Property Management Fees -$119
CASH FLOW
$100

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.

$290,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.60%

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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$25,191

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,664

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7403$1,7954$1,9005$1,926
$1,926
RENT COMPS ANALYSIS
  • 3949 Riverstone Drive Suwanee, GA 2
    • 5 beds 4 baths ∙ 2,023 Sqft ∙ Built 1994 5 beds 4 baths ∙ 2,023 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.86
    •  
  • 3954 Riverstone Drive Suwanee, GA 1
    • 4 beds 3 baths ∙ 2,152 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,152 Sqft ∙ Built 1995
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 1526 Kenzie Court Suwanee, GA 3
    • 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 1985
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.78
    •  
  • 3905 Lake Burton Drive Duluth, GA 4
    • 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 1997
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.84
    •  
  • 1961 Fosco Drive Duluth, GA 5
    • 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 2006
    property image
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,926
    • $0.88
    •  
PROPERTY LISTING DETAILS
Scott Samford
1.770.356.7886
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820088
Last Updated: 12/19/2020
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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