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1187 Yellow River Drive Lawrenceville, GA 30043

3 Beds 3 Baths 1,745 sqft Built 1999

$285,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $163.32
  • 2 Days on Market
  • MLS # : 6913918
  • Updated Date : 07/13/2021 at 11:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,745 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Incredible investment property! Lot backs up to GGC campus. Property has a one year lease with vetted tenants. New roof, hot water heater, AC unit within last 5 yrs. Typical minor cosmetic touch ups. Carpet and laminate flooring like new. Well maintained subdivision with no HOA or rental restrictions. Owner has another leased property for sale in same neighborhood. Don't miss out on this amazing income producing opportunity!

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)
  • #1 Most affordable big city (WalletHub, 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'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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$990
Property Tax -$342
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$78

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.

$285,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.56%

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

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$19,454

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,592

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5903$1,6004$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 1187 Yellow River Drive Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.91
    •  
  • 1330 Winding Wood Way Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1992
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 982 Sugar Oak Lane Lawrenceville, GA 3
    • 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1999
    property image
    LEASED 04/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 1065 Chandler Park Court Lawrenceville, GA 4
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1994
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 559 Rivulett Court Lawrenceville, GA 5
    • 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 1995
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
PROPERTY LISTING DETAILS
Cathleen Donaldson
1.678.787.4036
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6913918
Last Updated: 07/13/2021
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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