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1189 Blazing Ridge Lawrenceville, GA 30046

3 Beds 2 Baths 1,670 sqft Built 1979

INVESTimate

$216,000

List Price

$1,370

$1,233 - $1,507

Rent Est.

$236,110  ( +9.31%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $129.34
  • 6 Days on Market
  • MLS # : 6770516
  • Updated Date : 08/22/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,670 sqft
  • Baths : 2 full
Listing Agent's Description

This Lawrenceville one-story home offers a two-car garage. This home is vacant and cleaned regularly.

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30046

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $82k227k

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

Zip Code: 30046

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8171552

* 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
Margaret Winn Holt Elementary School Primary Regular 1,172 81 5
Moore Middle School Middle Regular 1,011 63 6
Central Gwinnett High School High Regular 2,748 152 5

Margaret Winn Holt Elementary School

  • Education Level: Primary
  • # of students: 1,172
  • # of teachers: 81
5
GreatSchools Rating

Moore Middle School

  • Education Level: Middle
  • # of students: 1,011
  • # of teachers: 63
6
GreatSchools Rating

Central Gwinnett High School

  • Education Level: High
  • # of students: 2,748
  • # of teachers: 152
5
GreatSchools Rating
 

$194,400$237,600$216,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$797
Property Tax -$227
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$167

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$216,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.31%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,990

INVESTMENT

$62,990

Down Payment
$54,000
Rehab Estimate
$5,750
Closing Costs
$3,240

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$797

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,000
Loan Amount $162,000
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$21,752

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,369

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3703$1,4504$1,4955$1,495
$1,495
RENT COMPS ANALYSIS
  • 1189 Blazing Ridge Lawrenceville, 2
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.82
    •  
  • 1617 Scholar Drive Lawrenceville, 1
    • 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1984
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.75
    •  
  • 965 Dogwood Park Drive Lawrenceville, 3
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1996
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 1541 Academic Court Lawrenceville, 4
    • 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 1986
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.83
    •  
  • 988 Dallas Way Lawrenceville, 5
    • 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 1985
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770516
Last Updated: 08/22/2020
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. © 2017 First Multiple Listing Service, Inc.

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