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1265 Fountain Cove Lane Lawrenceville, GA 30043

4 Beds 2 Baths 2,340 sqft Built 1997

INVESTimate

$289,000

List Price

$1,590

$1,431 - $1,749

Rent Est.

$312,496  ( +8.13%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $123.50
  • 5 Days on Market
  • MLS # : 6771057
  • Updated Date : 08/24/2020 at 11:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,340 sqft
  • Baths : 2 full
Listing Agent's Description

Wonderful Ranch Home In A Beautiful Neighborhood with Great School District, Close to The Mall Of Georgia,restaurants, close to medical facilities, and major Highways. All new flooring in lower level.Just waiting for your special touches to call this home!

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: 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
Freeman's Mill Elementary School Primary Regular 909 58 8
Twin Rivers Middle School Middle Regular 1,570 85 9
Mountain View High School High Regular 2,103 100 7

Freeman's Mill Elementary School

  • Education Level: Primary
  • # of students: 909
  • # of teachers: 58
8
GreatSchools Rating

Twin Rivers Middle School

  • Education Level: Middle
  • # of students: 1,570
  • # of teachers: 85
9
GreatSchools Rating

Mountain View High School

  • Education Level: High
  • # of students: 2,103
  • # of teachers: 100
7
GreatSchools Rating
 

$260,100$317,900$289,000

PURCHASE PRICE

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

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-$4.0k-$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 $1,590
EXPENSES Loan Payment -$1,066
Property Tax -$347
Property Insurance -$72
HOA -$21
Property Management Fees -$119
CASH FLOW
-$35

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.

$289,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.13%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$13,403

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
  • $0.68

    LIST RENT PER SQFT
  • $1,632

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,515
1$1,5152$1,5903$1,6504$1,6955$1,900
$1,900
RENT COMPS ANALYSIS
  • 1265 Fountain Cove Lane Lawrenceville, 2
    • 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.68
    •  
  • 1599 Amhearst Mill Drive Lawrenceville, 1
    • 3 beds 2 baths ∙ 2,255 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,255 Sqft ∙ Built 1999
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,515
    • $0.67
    •  
  • 1034 Brighton Cove Trail Lawrenceville, 3
    • 5 beds 2 baths ∙ 2,361 Sqft ∙ Built 2001 5 beds 2 baths ∙ 2,361 Sqft ∙ Built 2001
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 1055 Westmoreland Lane Lawrenceville, 4
    • 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 2007
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.68
    •  
  • 1050 Fountain Glen Drive Lawrenceville, 5
    • 4 beds 3 baths ∙ 2,553 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,553 Sqft ∙ Built 1997
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.74
    •  
PROPERTY LISTING DETAILS
Janice Carl
1.678.770.2013
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6771057
Last Updated: 08/24/2020
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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