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640 Tribble Creek Drive Grayson, GA 30017

3 Beds 3 Baths 2,098 sqft Built 1995

$285,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $135.84
  • 2 Days on Market
  • MLS # : 6913708
  • Updated Date : 07/13/2021 at 09:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,098 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Two-story home sitting on .71 acres in the Archer school district. Wide, rocking chair front porch to greet you. Step into the main level with new laminate flooring throughout. Spacious great room with painted fireplace and wood mantle. Formal dining room or home office with faux brick accent wall. Updated kitchen features eat-in area, subway tiled backsplash, new cabinets, stainless steel appliances, and shiplap. Renovated powder room on the main level. The owner's suite is located upstairs and features trey ceiling, walk-in closet, double vanity, separate shower,

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

Zip Code: 30017

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30017

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
W. J. Cooper Elementary School Primary Regular 1,174 68 7
Mcconnell Middle School Middle Regular 1,666 93 8
Archer High School High Regular 2,432 121 8

W. J. Cooper Elementary School

  • Education Level: Primary
  • # of students: 1,174
  • # of teachers: 68
7
GreatSchools Rating

Mcconnell Middle School

  • Education Level: Middle
  • # of students: 1,666
  • # of teachers: 93
8
GreatSchools Rating

Archer High School

  • Education Level: High
  • # of students: 2,432
  • # of teachers: 121
8
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$990
Property Tax -$298
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$176

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.

$285,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.2%
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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$28,994

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,692

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,415
1$1,4152$1,6003$1,6504$1,800
$1,800
RENT COMPS ANALYSIS
  • 640 Tribble Creek Drive Grayson, GA 3
    • 3 beds 3 baths ∙ 2,098 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,098 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 120 Grayview Court Grayson, GA 1
    • 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1997
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,415
    • $0.78
    •  
  • 2945 Emerald Springs Drive Lawrenceville, GA 2
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 1997
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
  • 2075 Meyers Drive Lawrenceville, GA 4
    • 4 beds 3 baths ∙ 2,103 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,103 Sqft ∙ Built 1998
    LEASED 05/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
PROPERTY LISTING DETAILS
Ansley Willett
1.678.628.9548
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6913708
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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