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5587 Riverside Drive Sugar Hill, GA 30518

4 Beds 3 Baths 1,812 sqft Built 1992

$265,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $146.25
  • 3 Days on Market
  • MLS # : 6837298
  • Updated Date : 02/06/2021 at 10:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,812 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

FULLY RENOVATED. High ceiling foyer and family room. Modern kitchen appliances, stone counters. Spacious bedrooms and new bathrooms. Large deck with private wood view. Close to lake Lanier and Suwanee town center. No HOA, perfect for investment or self occupancy. Priced to sell, no disclosures and sold as-is.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
Sycamore Elementary School Primary Regular 724 48 7
Lanier Middle School Middle Regular 1,353 79 7
Lanier High School High Regular 1,718 88 7

Sycamore Elementary School

  • Education Level: Primary
  • # of students: 724
  • # of teachers: 48
7
GreatSchools Rating

Lanier Middle School

  • Education Level: Middle
  • # of students: 1,353
  • # of teachers: 79
7
GreatSchools Rating

Lanier High School

  • Education Level: High
  • # of students: 1,718
  • # of teachers: 88
7
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$920
Property Tax -$282
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$196

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.

$265,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.6%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$30,155

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,640

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5253$1,5504$1,5805$1,600
$1,600
RENT COMPS ANALYSIS
  • 5587 Riverside Drive Sugar Hill, GA 4
    • 4 beds 3 baths ∙ 1,812 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,812 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.87
    •  
  • 5467 Riverside Drive Sugar Hill, GA 1
    • 4 beds 3 baths ∙ 1,831 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,831 Sqft ∙ Built 1994
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.83
    •  
  • 5980 Tallant Drive Sugar Hill, GA 2
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1997
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.94
    •  
  • 5730 River Ridge Lane Sugar Hill, GA 3
    • 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 1999
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
  • 5620 Sycamore Road Sugar Hill, GA 5
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1993
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
PROPERTY LISTING DETAILS
Lin Khanmamedov
1.214.929.3913
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837298
Last Updated: 02/06/2021
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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