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1511 Still Ridge Lane Lawrenceville, GA 30045

5 Beds 3 Baths 2,613 sqft Built 2014

$300,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $114.81
  • 2 Days on Market
  • MLS # : 6806035
  • Updated Date : 11/07/2020 at 21:07
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,613 sqft
  • Baths : 3 full
Listing Agent's Description

Gorgeous 5 bedrooms 3 baths house in a professionally managed community. Main level hardwood throughout, separate formal dining room, Spacious Family room with fireplace overlooking open kitchen with breakfast area. Kitchen with granite counter-top bar and stainless steel appliances. In-law suite and full bath on the main! Upstairs includes huge master suite and 3 additional bedrooms. All bedrooms are over sized. Great Location! This home is in a beautiful community, has easy access to highways, hospital and shopping, close to downtown Lawrenceville & Grayson,

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 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
Lovin Elementary School Primary Regular 883 64 6
Mcconnell Middle School Middle Regular 1,666 93 8
Archer High School High Regular 2,432 121 8

Lovin Elementary School

  • Education Level: Primary
  • # of students: 883
  • # of teachers: 64
6
GreatSchools Rating

Mcconnell Middle School

  • Education Level: Middle
  • # of students: 1,666
  • # of teachers: 93
8
GreatSchools Rating

Archer High School

  • Education Level: High
  • # of students: 2,432
  • # of teachers: 121
8
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,107
Property Tax -$355
Property Insurance -$78
HOA -$40
Property Management Fees -$119
CASH FLOW
$181

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.

$300,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.63%

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$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$29,945

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,966

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,799
1$1,7992$1,8803$1,9254$1,9755$2,150
$2,150
RENT COMPS ANALYSIS
  • 1511 Still Ridge Lane Lawrenceville, GA 2
    • 5 beds 3 baths ∙ 2,613 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,613 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.72
    •  
  • 809 Still Hill Lane Lawrenceville, GA 1
    • 4 beds 3 baths ∙ 2,563 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,563 Sqft ∙ Built 2017
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.70
    •  
  • 1453 Sand Way Lawrenceville, GA 3
    • 4 beds 3 baths ∙ 2,472 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,472 Sqft ∙ Built 2016
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.78
    •  
  • 1510 Still Ridge Lane Lawrenceville, GA 4
    • 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2016
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.74
    •  
  • 798 Still Hill Lane Lawrenceville, GA 5
    • 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 2014
    property image
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.79
    •  
PROPERTY LISTING DETAILS
Lihai Zhang
1.770.865.1555
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6806035
Last Updated: 11/07/2020
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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