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754 Friars Head Drive Suwanee, GA 30024

4 Beds 3 Baths 2,717 sqft Built 2006

$359,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $132.13
  • 2 Days on Market
  • MLS # : 6815586
  • Updated Date : 12/05/2020 at 10:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,717 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This charming home on a partially finished basement is located in the family friendly neighborhood of Townsend Creek in the North Gwinnett School District! Home has been meticulously maintained and seller is leaving all appliances including refrigerator and washer/dryer. Carpeting less than a year old and brand new hard wood floors in dining room and kitchen. Fantastic floorplan with large dining room and sunny kitchen with center island overlooking the two story family room. Upstairs you will find the spacious master bedroom with vaulted ceiling. Master bath with

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MARKET HIGHLIGHTS

  • 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)
  • #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)

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
Riverside Elementary School Primary Regular 1,031 69 9
North Gwinnett Middle School Middle Regular 2,129 118 8
North Gwinnett High School High Regular 2,698 135 9

Riverside Elementary School

  • Education Level: Primary
  • # of students: 1,031
  • # of teachers: 69
9
GreatSchools Rating

North Gwinnett Middle School

  • Education Level: Middle
  • # of students: 2,129
  • # of teachers: 118
8
GreatSchools Rating

North Gwinnett High School

  • Education Level: High
  • # of students: 2,698
  • # of teachers: 135
9
GreatSchools Rating
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,325
Property Tax -$452
Property Insurance -$80
HOA -$54
Property Management Fees -$119
CASH FLOW
-$39

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.

$359,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.55%

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-$5.0k$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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$16,180

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,011

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$1,9904$2,0005$2,150
$2,150
RENT COMPS ANALYSIS
  • 754 Friars Head Drive Suwanee, GA 3
    • 4 beds 3 baths ∙ 2,717 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,717 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.73
    •  
  • 5051 Akard Court Suwanee, GA 1
    • 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 2001
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
  • 460 Chandler Court Sugar Hill, GA 2
    • 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 1995
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.73
    •  
  • 5081 Akard Court Suwanee, GA 4
    • 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 2001
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.68
    •  
  • 373 Pasatiempo Lane Suwanee, GA 5
    • 5 beds 3 baths ∙ 2,771 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,771 Sqft ∙ Built 2005
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.78
    •  
PROPERTY LISTING DETAILS
Kelly Evens
1.770.815.2272
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815586
Last Updated: 12/05/2020
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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