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PROPERTY INFO
FACTS
- Single Family
- Built In 1988
- Price/Sqft : $116.36
- 1 Days on Market
- MLS # : 6843034
- Updated Date : 02/20/2021 at 23:40
CONSTRUCTION
- Beds : 3
- Floor Size : 1,504 sqft
- Baths : 2 full
Listing Agent's Description
Don't miss this opportunity to get into the sought after Norris Lake community! The potential is endless within this adorable lake home. Enjoy the spaciousness that the layout of this home provides or head out onto the deck for a breath of fresh air. This home is perfect for an investor or a buyer willing to put in the work to make it their own. Being sold AS-IS!
SEE MORE
- 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)
- 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).
- #1 World’s Busiest Airport(Airports Council International, 2018)
- 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)
PRICE & RENT TRENDS
Zip Code: 30039
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 30039
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,190 |
| EXPENSES | Loan Payment | -$608 |
| Property Tax | -$223 | |
| Property Insurance | -$56 | |
| HOA | -$25 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$159
|
||
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.
$175,000
PROJECTED PRICE
$1,190
PROJECTED RENT
0.68%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$52,125
LOAN DETAILS
$608
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $43,750 |
| Loan Amount | $131,250 |
8.33
YEARS SAVED
$19,080
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,190
LIST RENT -
$0.79
LIST RENT PER SQFT
-
$1,237
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
4415 Kim Street Snellville, GA 1
- 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1988
- Rent
- Rent Per SQFT
- $1,190
- $0.79
-
4477 James Wade Drive Snellville, GA 2
- 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001
LEASED 09/18/19- Rent
- Rent Per SQFT
- $1,200
- $0.79
-
4364 Marjorie Road Snellville, GA 3
- 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2003
LEASED 03/06/20- Rent
- Rent Per SQFT
- $1,250
- $0.83
-
4469 Longley Lane Snellville, GA 4
- 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 1990
LEASED 07/15/20- Rent
- Rent Per SQFT
- $1,415
- $0.81
-
4420 Telida Trail Snellville, GA 5
- 4 beds 2 baths ∙ 1,730 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,730 Sqft ∙ Built 2002
LEASED 11/14/19- Rent
- Rent Per SQFT
- $1,495
- $0.86
PROPERTY LISTING DETAILS
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6843034
Last Updated: 02/20/2021
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.
