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5331 Twin Creeks Place Norcross, GA 30071

4 Beds 3 Baths 2,727 sqft Built 2001

$400,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $146.68
  • 3 Days on Market
  • MLS # : 6828940
  • Updated Date : 01/16/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,727 sqft
  • Baths : 3 full
Listing Agent's Description

New roof, new LVP floor at main and all bathrooms, new carpet at bedrooms, new paint in/ex, new granite countertop at the kitchen, new stove, new faucets new light fixtures, new fans at family room and master bedroom, new 2' blinds, AC systems 2-3 years old, open floor plan, 4-bed rooms 3 full baths, with unfinished daylight basement, the biggest lot at the community, ideal location, close to high way and shopping, move-in ready

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30071

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30071

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8171623

* 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
Norcross Elementary School Primary Regular 1,175 76 5
Summerour Middle School Middle Regular 1,561 101 5
Norcross High School High Regular 3,738 204 5

Norcross Elementary School

  • Education Level: Primary
  • # of students: 1,175
  • # of teachers: 76
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
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,389
Property Tax -$468
Property Insurance -$80
HOA -$33
Property Management Fees -$119
CASH FLOW
-$120

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$400,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
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-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,973

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7003$1,9454$1,970
$1,970
RENT COMPS ANALYSIS
  • 5331 Twin Creeks Place Norcross, GA 4
    • 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.72
    •  
  • 5295 Lyme Bay Circle Norcross, GA 1
    • 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 1982
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.69
    •  
  • 5146 Rails Way Norcross, GA 2
    • 5 beds 3 baths ∙ 2,413 Sqft ∙ Built 1984 5 beds 3 baths ∙ 2,413 Sqft ∙ Built 1984
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.70
    •  
  • 4809 Glenwhite Drive Duluth, GA 3
    • 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1984
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.78
    •  
PROPERTY LISTING DETAILS
Ting Wang
1.678.557.7529
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828940
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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