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4262 Hopkins Lake Drive Duluth, GA 30096

4 Beds 3 Baths 2,756 sqft Built 1986

$244,900

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $88.86
  • 2 Days on Market
  • MLS # : 6803382
  • Updated Date : 11/03/2020 at 01:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,756 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Excellent opportunity for investors or first time buyers* 4 Bdr Traditional house with unfinished bsmnt in great Duluth* Convenient Location* Could add 2 more bdr* Need same renovation to finish* 2 finished bonus rooms added with new laminate* Large Living Room with FP with new laminate* All other floor need to be change*Oversize Master with seating area* Jacuzzi and Shower in Master Bath* 2 car garage* 2 years old water heater, 3 years old heating system* Seller is motivated * No sellers Disclosure* ASIS condition

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30096

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $103k330k

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

Zip Code: 30096

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732087

* 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
Beaver Ridge Elementary School Primary Regular 1,300 89 5
Summerour Middle School Middle Regular 1,561 101 5
Norcross High School High Regular 3,738 204 5

Beaver Ridge Elementary School

  • Education Level: Primary
  • # of students: 1,300
  • # of teachers: 89
5
GreatSchools Rating

Summerour Middle School

  • Education Level: Middle
  • # of students: 1,561
  • # of teachers: 101
5
GreatSchools Rating

Norcross High School

  • Education Level: High
  • # of students: 3,738
  • # of teachers: 204
5
GreatSchools Rating
 

$220,410$269,390$244,900

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 -$904
Property Tax -$298
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
$339

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.

$244,900

PROJECTED PRICE

$1,740

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.2%
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$5.0k$10k$15k$20k

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$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

11.08

YEARS SAVED

$47,593

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
  • $0.63

    LIST RENT PER SQFT
  • $2,012

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,740
1$1,7402$1,7503$1,7954$2,000
$2,000
RENT COMPS ANALYSIS
  • 4262 Hopkins Lake Drive Duluth, GA 1
    • 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.63
    •  
  • 2765 Shelter Cove Duluth, GA 2
    • 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1991
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.69
    •  
  • 4130 Fallbrook Drive Duluth, GA 3
    • 3 beds 3 baths ∙ 2,469 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,469 Sqft ∙ Built 1997
    property image
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.73
    •  
  • 2223 Ingram Road Duluth, GA 4
    • 4 beds 3 baths ∙ 2,586 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,586 Sqft ∙ Built 1977
    property image
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
PROPERTY LISTING DETAILS
Atlana Real Team
1.678.575.3608
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803382
Last Updated: 11/03/2020
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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