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1070 Prestonwood Drive Lawrenceville, GA 30043

5 Beds 4 Baths 2,633 sqft Built 1992

$350,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $132.93
  • 4 Days on Market
  • MLS # : 6839369
  • Updated Date : 02/13/2021 at 03:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,633 sqft
  • Baths : 4 full
Listing Agent's Description

Stunning HGTV home! 5 bed, 4 bath RANCH WITH A FULL BASEMENT in Collins Hill School District! NO EXPENSE WAS SPARED WITH THE MAIN LEVEL RENOVATIONS!!! Stunning hardwoods throughout the home! The kitchen features granite countertops and stainless-steel appliances! Spa like bathroom in the Owner’s suite that features a lighted showerhead to let you know when the shower has reached your desired temperature and don’t forget the body jets and bidet hookup!! Full bed and bath in basement!

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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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: 30043

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30043

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
Mckendree Elementary School Primary Regular 1,098 72 7
Creekland Middle School Middle Regular 2,157 129 6
Collins Hill High School High Regular 3,148 157 8

Mckendree Elementary School

  • Education Level: Primary
  • # of students: 1,098
  • # of teachers: 72
7
GreatSchools Rating

Creekland Middle School

  • Education Level: Middle
  • # of students: 2,157
  • # of teachers: 129
6
GreatSchools Rating

Collins Hill High School

  • Education Level: High
  • # of students: 3,148
  • # of teachers: 157
8
GreatSchools Rating
 

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

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 -$1,216
Property Tax -$420
Property Insurance -$78
HOA -$33
Property Management Fees -$119
CASH FLOW
-$66

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

$1,800

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.1%
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$1.2M

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$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 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,086

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
  • $0.68

    LIST RENT PER SQFT
  • $1,830

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7003$1,7954$1,8005$2,000
$2,000
RENT COMPS ANALYSIS
  • 1070 Prestonwood Drive Lawrenceville, GA 4
    • 5 beds 4 baths ∙ 2,633 Sqft ∙ Built 1992 5 beds 4 baths ∙ 2,633 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.68
    •  
  • 910 Hounds Ridge Court Lawrenceville, GA 1
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 1991
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.67
    •  
  • 1551 Swan Valley Court Lawrenceville, GA 2
    • 4 beds 3 baths ∙ 2,736 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,736 Sqft ∙ Built 2002
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.62
    •  
  • 575 Station View Run Lawrenceville, GA 3
    • 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1992
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.72
    •  
  • 1415 Gabriel Drive Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,599 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,599 Sqft ∙ Built 1991
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
PROPERTY LISTING DETAILS
Andre Wigfall
1.678.960.9055
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6839369
Last Updated: 02/13/2021
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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