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1083 Evelyn Lane Sw Lilburn, GA 30047

3 Beds 3 Baths 2,426 sqft Built 1989

$322,500

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $132.93
  • 2 Days on Market
  • MLS # : 6828931
  • Updated Date : 02/06/2021 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,426 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Cozy Cape Cod in quite neighborhood. Custom built home, one owner, meticulously maintained. Lovely fenced backyard, flower gardens, gazebo, garden shed, full rocking chair front porch, 2 car attached garage, all season porch, patio and deck. Crown molding, hardwoods, carpeting, fireplace, built in bookcases, master on main, eat in in kitchen, laundry room, up grades in kitchen and bathrooms. Must see, one of a kind home to make your own.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mountain Park

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Mountain Park

NeighborhoodNIR 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
Camp Creek Elementary School Primary Regular 975 69 9
Trickum Middle School Middle Regular 1,987 108 8
Parkview High School High Regular 2,834 152 8

Camp Creek Elementary School

  • Education Level: Primary
  • # of students: 975
  • # of teachers: 69
9
GreatSchools Rating

Trickum Middle School

  • Education Level: Middle
  • # of students: 1,987
  • # of teachers: 108
8
GreatSchools Rating

Parkview High School

  • Education Level: High
  • # of students: 2,834
  • # of teachers: 152
8
GreatSchools Rating
 

$290,250$354,750$322,500

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 -$1,120
Property Tax -$345
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
$142

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.

$322,500

PROJECTED PRICE

$1,800

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 9.1%
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$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$91,213

INVESTMENT

$91,213

Down Payment
$80,625
Rehab Estimate
$5,750
Closing Costs
$4,838

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,120

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,625
Loan Amount $241,875
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$27,348

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
  • $0.74

    LIST RENT PER SQFT
  • $1,947

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7503$1,8004$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 1083 Evelyn Lane Sw Lilburn, GA 3
    • 3 beds 3 baths ∙ 2,426 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,426 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
  • 522 Cascade Drive Lilburn, GA 1
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1977
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.76
    •  
  • 1307 Arlene Court Lilburn, GA 2
    • 3 beds 3 baths ∙ 2,250 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,250 Sqft ∙ Built 1979
    property image
    LEASED 08/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 5285 Silver Creek Drive Lilburn, GA 4
    • 4 beds 4 baths ∙ 2,336 Sqft ∙ Built 1982 4 beds 4 baths ∙ 2,336 Sqft ∙ Built 1982
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.85
    •  
  • 1337 Arlene Court Lilburn, GA 5
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 1979
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
PROPERTY LISTING DETAILS
Judith Smith
1.678.773.0319
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828931
Last Updated: 02/06/2021
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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