Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1483 W Prospect Drive Lawrenceville, GA 30043

3 Beds 2 Baths 1,351 sqft Built 1985

$219,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $162.10
  • 3 Days on Market
  • MLS # : 6806958
  • Updated Date : 11/14/2020 at 11:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,351 sqft
  • Baths : 2 full
Listing Agent's Description

You want privacy on an acre lot in Mountain View Schools?? YOU GOT IT! With a little TLC this could be your dream get away from the big city! This 3/2 Ranch is nestled in the woods and you feel like you are miles away. The home also sits in a culdesac. The beautiful masonry fireplace makes the house cozy for the coolest of nights. The wooded, private back yard has a deck for the morning coffee in privacy! Don't miss out on this amazing opportunity! Sold as-is.

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: 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
 

$197,100$240,900$219,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$808
Property Tax -$263
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$147

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.

$219,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.63%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,785

INVESTMENT

$63,785

Down Payment
$54,750
Rehab Estimate
$5,750
Closing Costs
$3,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,750
Loan Amount $164,250
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$27,043

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,198

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3903$1,4004$1,475
$1,475
RENT COMPS ANALYSIS
  • 1483 W Prospect Drive Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.03
    •  
  • 1496 Arnold Drive Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1998
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.90
    •  
  • 1756 Strawvalley Road Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1984
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
  • 1185 Cedar Brook Drive Lawrenceville, GA 4
    • 3 beds 3 baths ∙ 1,669 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,669 Sqft ∙ Built 2001
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.88
    •  
PROPERTY LISTING DETAILS
Angie Holcomb
1.404.803.1030
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6806958
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.

BESbswy