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1212 Melton Drive Sw Lilburn, GA 30047

3 Beds 3 Baths 2,389 sqft Built 1984

INVESTimate

$297,900

List Price

$1,620

$1,458 - $1,782

Rent Est.

$321,672  ( +7.98%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1984
  • Price/Sqft : $124.70
  • 9 Days on Market
  • MLS # : 6769806
  • Updated Date : 08/25/2020 at 14:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,389 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

COME SEE THIS WELL LOVED HOME IN AWARD WINNING BROOKWOOD SCHOOLS! THIS HOME OFFERS HARDWOODS IN THE FOYER. LIVING ROOM AND DINING ROOM, LARGE BONUS ROOM W/BACK STAIRS, MUD ROOM/LAUNDRY ROOM AND SPLIT BEDROOM FLOOR PLAN. YOU'LL LOVE THE LARGE SECONDARY BEDROOM THAT HAS A PRIVATE ENTRY INTO A FULL SECOND BATH. ALSO, THE NEWER ROOF, WINDOWS AND DOWNSTAIRS FURNACE MAKE IT MORE ENERGY EFFICIENT! THIS IS A FAMILY NEIGHBORHOOD W/LARGE LOTS AND THE GREAT PRIVATE BACK YARD HAS 2 DECKS AND IS FENCED FOR THE FURRY BABIES.

SEE MORE

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: 30047

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30047

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
Brookwood Elementary School Primary Regular 1,120 74 9
Alton C. Crews Middle School Middle Regular 1,272 77 8
Brookwood High School High Regular 3,424 172 9

Brookwood Elementary School

  • Education Level: Primary
  • # of students: 1,120
  • # of teachers: 74
9
GreatSchools Rating

Alton C. Crews Middle School

  • Education Level: Middle
  • # of students: 1,272
  • # of teachers: 77
8
GreatSchools Rating

Brookwood High School

  • Education Level: High
  • # of students: 3,424
  • # of teachers: 172
9
GreatSchools Rating
 

$268,110$327,690$297,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,099
Property Tax -$319
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$10

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.

$297,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.98%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,694

INVESTMENT

$84,694

Down Payment
$74,475
Rehab Estimate
$5,750
Closing Costs
$4,469

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,475
Loan Amount $223,425
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$18,446

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,744

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6203$1,6954$1,7255$1,850
$1,850
RENT COMPS ANALYSIS
  • 1212 Melton Drive Sw Lilburn, 2
    • 3 beds 3 baths ∙ 2,389 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,389 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.68
    •  
  • 2776 Jo Beth Drive Lawrenceville, 1
    • 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 1973
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.70
    •  
  • 2732 Apple Orchard Trail Snellville, 3
    • 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2004
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.73
    •  
  • 1192 Melton Drive Sw Lilburn, 4
    • 4 beds 3 baths ∙ 2,357 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,357 Sqft ∙ Built 1985
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.73
    •  
  • 2640 Holly Springs Drive Snellville, 5
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 1987
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
PROPERTY LISTING DETAILS
Debra Adkins
1.678.699.2767
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6769806
Last Updated: 08/25/2020
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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