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4165 Spring Cove Drive Duluth, GA 30097

3 Beds 3 Baths 1,432 sqft Built 1996

$215,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $150.14
  • 3 Days on Market
  • MLS # : 6836862
  • Updated Date : 02/06/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,432 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Large kitchen with lots of light from the bay window and hardwood floors. Over sized family room with cozy fireplace and double doors out to deck overlooking private wooded backyard. Primary bedroom with tray ceiling and ensuite bathroom. Large secondary bedrooms. Full, unfinished daylight basement is ready for your custom touches or use as storage. Gutter guards, brand new heat/AC unit, whole house water filtration and roof is only 11 years old. New carpet and paint throughout.

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: Duluth

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $113k437k

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

Neighborhood: Duluth

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100220023002400Rent in $9732417

* 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
Chattahoochee Elementary School Primary Regular 1,248 79 9
Coleman Middle School Middle Regular NA
Duluth High School High Regular 2,675 142 7

Chattahoochee Elementary School

  • Education Level: Primary
  • # of students: 1,248
  • # of teachers: 79
9
GreatSchools Rating

Coleman Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Duluth High School

  • Education Level: High
  • # of students: 2,675
  • # of teachers: 142
7
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$747
Property Tax -$234
Property Insurance -$55
HOA -$140
Property Management Fees -$119
CASH FLOW
$215

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.

$215,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$27,544

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,632

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,510
$1,510
RENT COMPS ANALYSIS
  • 4165 Spring Cove Drive Duluth, GA 3
    • 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.05
    •  
  • 3869 Vicki Court Duluth, GA 1
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1978
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.09
    •  
  • 2990 Barnwood Crossing Duluth, GA 2
    • 3 beds 3 baths ∙ 1,256 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,256 Sqft ∙ Built 1992
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.19
    •  
PROPERTY LISTING DETAILS
Renee Adams
1.678.956.7860
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6836862
Last Updated: 02/06/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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