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1419 Somerset Way Sw Lilburn, GA 30047

4 Beds 3 Baths 2,530 sqft Built 1976

$289,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $114.58
  • 3 Days on Market
  • MLS # : 6846001
  • Updated Date : 02/26/2021 at 22:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,530 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

***Multi-offer Situation*** Please send your HIGHEST and BEST by Sat 27th by 5PM -Wonderful Colonial style home in Brookwood Schools District. This home has 4 BR/2.5 BA, family room, dining room, private den w/fireplace, & extra room for your desire. Hardwood Floors at the main level, ceramic tile at bathrooms & carpet in the common areas. Eat-in kitchen with 2 pantries. It has lots of attics space with 2 access stair points. Updates in bathrooms. Beautiful trim-work, fairly new roof and pool liner. This home has a outdoor building with workshop & pool house.

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)
  • 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)

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
Head Elementary School Primary Regular 545 37 8
Five Forks Middle School Middle Regular 1,065 61 9
Brookwood High School High Regular 3,424 172 9

Head Elementary School

  • Education Level: Primary
  • # of students: 545
  • # of teachers: 37
8
GreatSchools Rating

Five Forks Middle School

  • Education Level: Middle
  • # of students: 1,065
  • # of teachers: 61
9
GreatSchools Rating

Brookwood High School

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

$260,910$318,890$289,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,007
Property Tax -$316
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
$393

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.

$289,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.0%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$51,647

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,024

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,910
1$1,9102$1,9103$1,9454$1,9505$2,090
$2,090
RENT COMPS ANALYSIS
  • 1419 Somerset Way Sw Lilburn, GA 2
    • 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.75
    •  
  • 1304 Blankenship Lane Lilburn, GA 1
    • 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 1985
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.75
    •  
  • 1442 Hartman Drive Lilburn, GA 3
    • 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 1984
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.79
    •  
  • 1578 Rivermist Drive Sw Lilburn, GA 4
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1979
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
  • 3321 Manchester Drive Lilburn, GA 5
    • 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 1976
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.89
    •  
PROPERTY LISTING DETAILS
Oswaldo Zeas
1.704.340.1160
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6846001
Last Updated: 02/26/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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