|Price/Rent PSF||$ 12,667,502.00|
|SQ. FT. Available||88,600|
Buford is a northeast suburb of Atlanta. Within a 5-mile radius, the population is estimated at 128,439. This city may seem small but has had a total population increase of 18.2% since 2010. The per capita income in Buford in 2016 was $51,463 with an annual income of $92,636 for a family of four. The estimated median house value in 2016 was about $183,032. Makita, a large tool manufacturer, operates a factory in Buford with 400 employees. The school system in Buford is one of the highest ranked, according to Niche.com.
Georgia is a southeastern U.S. state whose terrain spans coastal beaches, farmland and mountain ranges. Once considered the cultural and economic capital of the Antebellum South, Georgia today is now the epicenter of the “New South” with a robust history and economy. Georgia’s largest city is Atlanta, dominating the population and economic growth. The state’s population estimate for 2017 is 10,429,379 with a population increase of 7.65% since 2010. Atlanta’s population estimate for 2017 is at 420,425 and had an increase of 15.7% since 2010 and shows no signs of slowing down.
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This Build for rent (BFR) investment portfolio allows a buyer the opportunity to work with an extremely qualified regional builder to acquire 36 to-be-built single-family homes. Because the community will be a short distance from Atlanta, residents will be able to commute to the city while enjoying a great small town with big city amenities.
The community is located a short distance from downtown Atlanta, Georgia on major arterial roads. Metro Atlanta has a population of approximately 5,884,736 people, a 33.6% increase since 2001. Metro-Atlanta’s long economic growth and steady population increases have resulted in a short supply of houses. A shortage of affordable houses leads to an increase in renters.
The seller is extremely qualified and will be able to build out to an agreed upon schedule to allow consistent capital placement. This portfolio will allow an investor to efficiently control ongoing capital expenditures because the homes will be new, built to a high standard, and be under warranty.
Four floor-plans are planned for construction. The Oakmont is a 2,200 square foot 4-bedroom, 3-bathroom home. The Willow is a 2,400 square foot home also with 4-bedrooms and 3-bathrooms. The Redwood is a 2,600 square foot home with 5-bedrooms and 2-bathrooms. Some of the Redwoods will have an unfinished basement that will allow an owner to charge a premium to tenants because of the extra space and storage.