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1121 Whithers Drive Lawrenceville, GA 30045

3 Beds 2 Baths 2,226 sqft Built 2002

$299,900

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $134.73
  • 4 Days on Market
  • MLS # : 6839446
  • Updated Date : 02/12/2021 at 16:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,226 sqft
  • Baths : 2 full
Listing Agent's Description

Charming brick front home on cul-de-sac. Step into a spacious floor plan with neutral interiors, hardwood floors and carpeting. Entertain guests in the cozy living room with fireplace and eat in the separate dining room. Kitchen features a breakfast bar and large breakfast room bursting with natural light. Bonus room with double doors would make a great home office. Large primary bedroom with vaulted ceilings, soaking tub, separate shower and walk-in closet. Expansive deck looks out to large yard and wooded area. Full unfinished 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: 30045

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k227k

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

Zip Code: 30045

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9731610

* 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
Starling Elementary School Primary Regular 995 60 9
Couch Middle School Middle Regular 996 52 9
Grayson High School High Regular 2,767 155 7

Starling Elementary School

  • Education Level: Primary
  • # of students: 995
  • # of teachers: 60
9
GreatSchools Rating

Couch Middle School

  • Education Level: Middle
  • # of students: 996
  • # of teachers: 52
9
GreatSchools Rating

Grayson High School

  • Education Level: High
  • # of students: 2,767
  • # of teachers: 155
7
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,042
Property Tax -$360
Property Insurance -$70
HOA -$48
Property Management Fees -$119
CASH FLOW
$102

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.

$299,900

PROJECTED PRICE

$1,740

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$18,142

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,831

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,7403$1,7954$1,7955$1,980
$1,980
RENT COMPS ANALYSIS
  • 1121 Whithers Drive Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 2,226 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,226 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.78
    •  
  • 1135 Briarwood Cove Lawrenceville, GA 1
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 1989
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.77
    •  
  • 916 Scenic Park Trail Lawrenceville, GA 3
    • 4 beds 2 baths ∙ 2,146 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,146 Sqft ∙ Built 2013
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
  • 1256 Scenic Park Trail Lawrenceville, GA 4
    • 4 beds 2 baths ∙ 2,272 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,272 Sqft ∙ Built 2010
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
  • 974 Cavesson Terrace Lawrenceville, GA 5
    • 4 beds 2 baths ∙ 2,230 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,230 Sqft ∙ Built 1996
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.89
    •  
PROPERTY LISTING DETAILS
Louise Bannister
1.678.858.1180
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6839446
Last Updated: 02/12/2021
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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