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6585 Fairfield Trace Suwanee, GA 30024

3 Beds 2 Baths 1,981 sqft Built 1997

$350,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $176.68
  • 3 Days on Market
  • MLS # : 6805188
  • Updated Date : 11/07/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,981 sqft
  • Baths : 2 full
Listing Agent's Description

Ranch with open floor plan has vaulted ceilings allowing tons of natural light, offering a warm feel throughout. The updated kitchen has granite counter tops, back splash and SS appliances. The family chef will be right at home while preparing that special meal here. Hardwood floors throughout the living areas and office space plus newer carpet in all bedrooms. The high efficiency HVAC installed in 2014 and attic insulation added last year are sure to help save on utility bills. New interior paint, ceiling fans, light fixtures & brushed nickle hardware. Owner/agent

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 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
Johns Creek Elementary School Primary Regular 904 52 9
Riverwatch Middle School Middle Regular 1,394 73 10
Lambert High School High Regular 2,741 143 10

Johns Creek Elementary School

  • Education Level: Primary
  • # of students: 904
  • # of teachers: 52
9
GreatSchools Rating

Riverwatch Middle School

  • Education Level: Middle
  • # of students: 1,394
  • # of teachers: 73
10
GreatSchools Rating

Lambert High School

  • Education Level: High
  • # of students: 2,741
  • # of teachers: 143
10
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,291
Property Tax -$288
Property Insurance -$65
HOA -$50
Property Management Fees -$119
CASH FLOW
-$4

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.

$350,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.52%

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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$21,020

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,818

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,7503$1,7954$1,8105$1,900
$1,900
RENT COMPS ANALYSIS
  • 6585 Fairfield Trace Suwanee, GA 4
    • 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.91
    •  
  • 9015 Friarbridge Drive Suwanee, GA 1
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2004
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.88
    •  
  • 9035 Ruel Lane Suwanee, GA 2
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2004
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 8815 Grappe Trace Suwanee, GA 3
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2004
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 8955 Friarbridge Drive Suwanee, GA 5
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2005
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
PROPERTY LISTING DETAILS
Maggie Harper
1.770.653.8483
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805188
Last Updated: 11/07/2020
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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