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1490 Pine Creek Drive Lawrenceville, GA 30043

3 Beds 3 Baths 1,759 sqft Built 1988

$220,520

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $125.37
  • 3 Days on Market
  • MLS # : 6831144
  • Updated Date : 01/23/2021 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,759 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful home in Twin Branches with Great Price!! Sold As Is. Move-in ready. Perfectly located on a private more than half acre lot. The Roof was replaced in 2007 and HVAC serviced in 2019. Newly painted entire rooms and brand new carpet. Quiet neighborhood Top rated schools and NO HOA! This is a rare find!

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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
 

$198,468$242,572$220,520

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$766
Property Tax -$265
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$169

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.

$220,520

PROJECTED PRICE

$1,380

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$64,188

INVESTMENT

$64,188

Down Payment
$55,130
Rehab Estimate
$5,750
Closing Costs
$3,308

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$766

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,130
Loan Amount $165,390
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$24,922

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,517

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,4003$1,5654$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 1490 Pine Creek Drive Lawrenceville, GA 1
    • 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.78
    •  
  • 1756 Strawvalley Road Lawrenceville, GA 2
    • 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
    •  
  • 1285 Gatewood Drive Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 1971
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.88
    •  
  • 1751 Stillbrook Way Lawrenceville, GA 4
    • 4 beds 2 baths ∙ 2,074 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,074 Sqft ∙ Built 1998
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 1749 Wilford Drive Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 2007
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jingtao Earwood
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831144
Last Updated: 01/23/2021
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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