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1412 Cherry Oak Trace Lawrenceville, GA 30045

4 Beds 3 Baths 2,555 sqft Built 1998

$274,888

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $107.59
  • 3 Days on Market
  • MLS # : 6808834
  • Updated Date : 11/14/2020 at 15:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,555 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Move-in ready 4 Bedroom, 2.5 Bath Home in sought-after Great Oaks Landing in the Grayson School District with an unbelievable backyard. Freshly painted interior and new carpet installed throughout. Foyer welcomes you inside, with access to the Living Room, perfect for a Home Office & the Dining Room with hardwood floors. Spacious Family Room with gas fireplace, Kitchen offers abundant white cabinetry, upgraded GE appliances, and opens to the Breakfast Area. Laundry Room, Powder Room and storage closets are also on the main level. Upstairs includes a spacious Master

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 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)
  • 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: 30045

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k227k

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

Zip Code: 30045

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9731610

* 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
Starling Elementary School Primary Regular 995 60 9
Couch Middle School Middle Regular 996 52 9
Grayson High School High Regular 2,767 155 7

Starling Elementary School

  • Education Level: Primary
  • # of students: 995
  • # of teachers: 60
9
GreatSchools Rating

Couch Middle School

  • Education Level: Middle
  • # of students: 996
  • # of teachers: 52
9
GreatSchools Rating

Grayson High School

  • Education Level: High
  • # of students: 2,767
  • # of teachers: 155
7
GreatSchools Rating
 

$247,399$302,377$274,888

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,014
Property Tax -$330
Property Insurance -$77
HOA -$38
Property Management Fees -$119
CASH FLOW
$42

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.

$274,888

PROJECTED PRICE

$1,620

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,595

INVESTMENT

$78,595

Down Payment
$68,722
Rehab Estimate
$5,750
Closing Costs
$4,123

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,722
Loan Amount $206,166
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$15,670

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
  • $0.63

    LIST RENT PER SQFT
  • $1,763

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,7003$1,7004$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 1412 Cherry Oak Trace Lawrenceville, GA 1
    • 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.63
    •  
  • 1909 Cooper Lakes Drive Grayson, GA 2
    • 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2005
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.66
    •  
  • 1131 Sonoma Drive Lawrenceville, GA 3
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2015
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.65
    •  
  • 1140 Great Oaks Drive Lawrenceville, GA 4
    • 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 1999
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
  • 518 Glen Terra Trace Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2016
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.73
    •  
PROPERTY LISTING DETAILS
Hunter Kirkman
1.678.773.0088
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808834
Last Updated: 11/14/2020
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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