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6180 Georgetown Park Drive Norcross, GA 30071

4 Beds 3 Baths 2,803 sqft Built 1999

$435,900

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $155.51
  • 52 Days on Market
  • MLS # : 6789866
  • Updated Date : 11/20/2020 at 21:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,803 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Gorgeous home for sale or rent on cul-de-sac lot near Historic Downtown Norcross! 2 story entryway leads to oversized family room w/great light and wall of windows. Fabulous home for entertaining, upgraded eat-in kitchen with large island open to fireside keeping room with window seating/storage. Oversized owner's suite features a separate sitting room, upgraded bath & custom closet. Main level has a study/office & large formal dining room. Outdoor living space w/deck overlooking private, fenced-in yard. 2 year old roof, koi pond and 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)
  • 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 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Neighborhood: Norcross

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Norcross

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $8172702

* 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
Susan Stripling Elementary School Primary Regular 1,236 84 4
Pinckneyville Middle School Middle Regular 1,306 81 6
Norcross High School High Regular 3,738 204 5

Susan Stripling Elementary School

  • Education Level: Primary
  • # of students: 1,236
  • # of teachers: 84
4
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
 

$392,310$479,490$435,900

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,608
Property Tax -$516
Property Insurance -$81
HOA -$42
Property Management Fees -$119
CASH FLOW
-$326

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.

$435,900

PROJECTED PRICE

$2,040

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.5%
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-$10k-$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$121,264

INVESTMENT

$121,264

Down Payment
$108,975
Rehab Estimate
$5,750
Closing Costs
$6,539

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,608

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,975
Loan Amount $326,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,355

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,289

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,040
1$2,0402$2,1003$2,1004$2,645
$2,645
RENT COMPS ANALYSIS
  • 6180 Georgetown Park Drive Norcross, GA 1
    • 4 beds 3 baths ∙ 2,803 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,803 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.73
    •  
  • 6075 Hickory Springs Drive Norcross, GA 2
    • 4 beds 4 baths ∙ 3,128 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,128 Sqft ∙ Built 2002
    LEASED 04/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.67
    •  
  • 5335 Twin Creeks Drive Norcross, GA 3
    • 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 2001
    LEASED 04/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.76
    •  
  • 5415 Spalding Bridge Court Norcross, GA 4
    • 5 beds 3 baths ∙ 2,585 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,585 Sqft ∙ Built 2001
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,645
    • $1.02
    •  
PROPERTY LISTING DETAILS
Sarah Schefske
1.404.285.8520
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6789866
Last Updated: 11/20/2020
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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