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5248 Meadowdale Court Nw Norcross, GA 30092

3 Beds 2 Baths 1,530 sqft Built 1979

$379,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $248.30
  • 2 Days on Market
  • MLS # : 6913897
  • Updated Date : 07/13/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,530 sqft
  • Baths : 2 full
Listing Agent's Description

3 bedroom 2 bathroom home in Orchards! This home has been refreshed with new carpet in all the bedrooms and features laminate flooring throughout. The kitchen features stainless steel appliances, quartz countertops, in kitchen eating area and access to the back deck. Formal dining room available. Entry foyer opens up to the large living room with a built in fireplace. The bedroom wing features all 3 bedrooms and full bathroom in hall. The primary bedroom features an en suite bathroom. Fenced in backyard for privacy. Attached 2 car garage. VACANT and move in ready!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Peachtree Corners

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k358k

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

Neighborhood: Peachtree Corners

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $9733087

* 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
Simpson Elementary School Primary Regular 765 62 10
Pinckneyville Middle School Middle Regular 1,306 81 6
Norcross High School High Regular 3,738 204 5

Simpson Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 62
10
GreatSchools Rating

Pinckneyville Middle School

  • Education Level: Middle
  • # of students: 1,306
  • # of teachers: 81
6
GreatSchools Rating

Norcross High School

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

$341,910$417,890$379,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,320
Property Tax -$339
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$115

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.

$379,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,277

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,566

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,8003$1,9004$1,950
$1,950
RENT COMPS ANALYSIS
  • 5248 Meadowdale Court Nw Norcross, GA 1
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.12
    •  
  • 5041 Bankside Way Peachtree Corners, GA 2
    • 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1995
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 4961 Bankside Way Peachtree Corners, GA 3
    • 3 beds 4 baths ∙ 1,836 Sqft ∙ Built 1995 3 beds 4 baths ∙ 1,836 Sqft ∙ Built 1995
    LEASED 05/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.03
    •  
  • 5071 Bankside Way Peachtree Corners, GA 4
    • 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1995
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.06
    •  
PROPERTY LISTING DETAILS
Jacqueline Shaffer
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6913897
Last Updated: 07/13/2021
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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