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460 S Alexander Street Buford, GA 30518

5 Beds 5 Baths 2,450 sqft Built 2018

$425,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $173.47
  • 3 Days on Market
  • MLS # : 6822524
  • Updated Date : 01/02/2021 at 08:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,450 sqft
  • Baths : 4 full , 1 half
Listing Agent's Description

2 years new in Buford city school district with full basement and high end finishes with an open floor plan. This beautiful house is covered in brick and hardy plank siding with a cozy covered porch out front. Enter the home to see beautiful hardwood floors throughout the main level. You will fall in love with the kitchen detailed with white cabinets and stainless steel appliances. This stunning home features an oversized bedroom on main as well as an office space. Customizable basement is ready for you to make it your own! Oversized master suite.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Zip Code: 30518

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30518

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9502009

* 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
Buford Elementary School Primary Regular 663 51 NA
Buford Middle School Middle Regular 1,002 60 9
Buford High School High Regular 1,207 67 NA

Buford Elementary School

  • Education Level: Primary
  • # of students: 663
  • # of teachers: 51
NA
GreatSchools Rating

Buford Middle School

  • Education Level: Middle
  • # of students: 1,002
  • # of teachers: 60
9
GreatSchools Rating

Buford High School

  • Education Level: High
  • # of students: 1,207
  • # of teachers: 67
NA
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,568
Property Tax -$330
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
$88

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.

$425,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.6%
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$1.2M$1.4M

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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$35,447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,156

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,867
1$1,8672$2,0003$2,1804$2,495
$2,495
RENT COMPS ANALYSIS
  • 460 S Alexander Street Buford, GA 3
    • 5 beds 5 baths ∙ 2,450 Sqft ∙ Built 2018 5 beds 5 baths ∙ 2,450 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.89
    •  
  • 4868 Maple Glen Drive Sugar Hill, GA 1
    • 5 beds 3 baths ∙ 2,120 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,120 Sqft ∙ Built 2013
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,867
    • $0.88
    •  
  • 5542 Leaf Ridge Lane Buford, GA 2
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2013
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 2080 Brickton Station Buford, GA 4
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 1998
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.99
    •  
PROPERTY LISTING DETAILS
Tary L Drouault
1.770.605.2221
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6822524
Last Updated: 01/02/2021
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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