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4179 Palm Drive Snellville, GA 30039

5 Beds 3 Baths 2,746 sqft Built 2005

$260,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $94.68
  • 4 Days on Market
  • MLS # : 6827405
  • Updated Date : 01/16/2021 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,746 sqft
  • Baths : 3 full
Listing Agent's Description

Swim/Tennis Community with playground, near Briscoe and Lenora Parks and shopping. Some of the home features are: new stainless-steel dishwasher; washer and dryer; breakfast room; bedroom on the main with connecting door to a full bathroom, great for parents or can be used as an office; oversized Master Bedroom with a separate area for a sitting room or office; master bath has a large walk-in closet; large secondary bedrooms upstairs with tray ceilings.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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).
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Zip Code: 30039

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200kPrice in $103k209k

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

Zip Code: 30039

ZipNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9251515

* 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
Rosebud Elementary School Primary Regular 1,103 63 6
Grace Snell Middle School Middle Regular 1,151 69 6
South Gwinnett High School High Regular 2,503 139 5

Rosebud Elementary School

  • Education Level: Primary
  • # of students: 1,103
  • # of teachers: 63
6
GreatSchools Rating

Grace Snell Middle School

  • Education Level: Middle
  • # of students: 1,151
  • # of teachers: 69
6
GreatSchools Rating

South Gwinnett High School

  • Education Level: High
  • # of students: 2,503
  • # of teachers: 139
5
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$903
Property Tax -$331
Property Insurance -$80
HOA -$38
Property Management Fees -$119
CASH FLOW
$239

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.

$260,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$29,071

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,675

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6653$1,7104$1,800
$1,800
RENT COMPS ANALYSIS
  • 4179 Palm Drive Snellville, GA 3
    • 5 beds 3 baths ∙ 2,746 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,746 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.62
    •  
  • 3587 Rosebud Park Drive Snellville, GA 1
    • 5 beds 3 baths ∙ 2,674 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,674 Sqft ∙ Built 2007
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.56
    •  
  • 3802 Rosebud Park Drive Snellville, GA 2
    • 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 2008
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.62
    •  
  • 4028 Brumby Way Snellville, GA 4
    • 4 beds 3 baths ∙ 2,781 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,781 Sqft ∙ Built 2005
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.65
    •  
PROPERTY LISTING DETAILS
Karen Shultz
1.470.721.9461
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6827405
Last Updated: 01/16/2021
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. © 2017 First Multiple Listing Service, Inc.

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