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1384 Luther Way Lawrenceville, GA 30043

3 Beds 2 Baths 1,453 sqft Built 1987

$235,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $161.73
  • 3 Days on Market
  • MLS # : 6812955
  • Updated Date : 11/28/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,453 sqft
  • Baths : 2 full
Listing Agent's Description

Beautiful 3 bed/2 bath ranch in Lawrenceville. Home features a ceiling fan in the family room and each bedroom. Great size master bedroom and plenty of backyard space. Property would be great for an investment opportunity. Home is tenant occupied.

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MARKET HIGHLIGHTS

  • 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 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)

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
Jackson Elementary School Primary Regular 1,673 102 7
Northbrook Middle School Middle Regular 1,001 56 NA
Peachtree Ridge High School High Regular 3,211 163 8

Jackson Elementary School

  • Education Level: Primary
  • # of students: 1,673
  • # of teachers: 102
7
GreatSchools Rating

Northbrook Middle School

  • Education Level: Middle
  • # of students: 1,001
  • # of teachers: 56
NA
GreatSchools Rating

Peachtree Ridge High School

  • Education Level: High
  • # of students: 3,211
  • # of teachers: 163
8
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$867
Property Tax -$282
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$23

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.

$235,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.1%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$11,746

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,304

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4503$1,5504$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 1384 Luther Way Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.89
    •  
  • 1441 Howard Way Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1987
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 2145 Racquet Club Circle Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 1995
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 680 Trellis Pond Court Lawrenceville, GA 4
    • 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 1992
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 1661 Omie Way Lawrenceville, GA 5
    • 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 1989
    property image
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
PROPERTY LISTING DETAILS
Sanders Team
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6812955
Last Updated: 11/28/2020
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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