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556 Broad Head Point Suwanee, GA 30024

4 Beds 3 Baths 2,354 sqft Built 1996

$290,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $123.19
  • 3 Days on Market
  • MLS # : 6807439
  • Updated Date : 11/14/2020 at 08:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,354 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome home! This beautiful and spacious two story home in the heart of North Gwinnett HS / Riverside Elementary district is waiting for you. Nestled on a quiet cul-de-sac away from the noise, you'll love spending time in the large fenced backyard. Fresh paint and carpet throughout, just bring your own special touch. Spacious bedrooms and a generously sized laundry room are upstairs. Hardiplank siding brings about durable quality for an easy care exterior.

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: 30024

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k373k

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

Zip Code: 30024

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9732129

* 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
Riverside Elementary School Primary Regular 1,031 69 9
North Gwinnett Middle School Middle Regular 2,129 118 8
North Gwinnett High School High Regular 2,698 135 9

Riverside Elementary School

  • Education Level: Primary
  • # of students: 1,031
  • # of teachers: 69
9
GreatSchools Rating

North Gwinnett Middle School

  • Education Level: Middle
  • # of students: 2,129
  • # of teachers: 118
8
GreatSchools Rating

North Gwinnett High School

  • Education Level: High
  • # of students: 2,698
  • # of teachers: 135
9
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,070
Property Tax -$366
Property Insurance -$73
HOA -$44
Property Management Fees -$119
CASH FLOW
$59

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.

$290,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.3%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$20,645

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,889

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,8503$1,9004$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 556 Broad Head Point Suwanee, GA 1
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.73
    •  
  • 5166 Wellisford Court Suwanee, GA 2
    • 4 beds 3 baths ∙ 2,352 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,352 Sqft ∙ Built 2001
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.79
    •  
  • 5240 W Price Road Suwanee, GA 3
    • 4 beds 4 baths ∙ 2,352 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,352 Sqft ∙ Built 2000
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 220 Gaines Oak Way Suwanee, GA 4
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2000
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 492 Antler Lane Suwanee, GA 5
    • 4 beds 4 baths ∙ 2,292 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,292 Sqft ∙ Built 1997
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
PROPERTY LISTING DETAILS
Lisa Oden
1.770.597.8577
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6807439
Last Updated: 11/14/2020
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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