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6779 Island Pointe Drive Buford, GA 30518

4 Beds 3 Baths 2,603 sqft Built 2003

$290,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $111.41
  • 5 Days on Market
  • MLS # : 6821503
  • Updated Date : 12/24/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,603 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome home to your Pristine 4 Bedroom, 2 ½ Bathroom Home that backs up to the Chattahoochee National Forest. Some of the features include the following: Well-manicured Front Yard, Newer Roof, Double Pane, Tinted Windows, Fresh Paint throughout the Interior, 2-Story Foyer with LVP Flooring throughout the main level, Formal Living Room, Separate Formal Dining Room with wainscoting. It will be the perfect place to host family dinners. Open Kitchen with Breakfast Bar, Large Walk-In Pantry, and an additional Pantry, Sizable Breakfast Area

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: 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
White Oak Elementary School Primary Regular 840 47 9
Lanier Middle School Middle Regular 1,353 79 7
Lanier High School High Regular 1,718 88 7

White Oak Elementary School

  • Education Level: Primary
  • # of students: 840
  • # of teachers: 47
9
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
 

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

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,070
Property Tax -$444
Property Insurance -$77
HOA -$35
Property Management Fees -$119
CASH FLOW
$54

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

$1,800

PROJECTED RENT

0.62%

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-$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$900k

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

5.33

YEARS SAVED

$19,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,803

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8004$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 6779 Island Pointe Drive Buford, GA 4
    • 4 beds 3 baths ∙ 2,603 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,603 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.69
    •  
  • 931 Upland Ives Drive Sugar Hill, GA 1
    • 4 beds 3 baths ∙ 2,499 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,499 Sqft ∙ Built 2012
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.70
    •  
  • 1277 Sailwind Court Buford, GA 2
    • 4 beds 3 baths ∙ 2,785 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,785 Sqft ∙ Built 2007
    LEASED 07/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.65
    •  
  • 868 Austin Creek Drive Buford, GA 3
    • 4 beds 3 baths ∙ 2,353 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,353 Sqft ∙ Built 2005
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 1073 Island Ford Road Buford, GA 5
    • 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 2019
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.66
    •  
PROPERTY LISTING DETAILS
Stephanie Willis
1.678.431.6294
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6821503
Last Updated: 12/24/2020
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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