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1516 Se Scholar Drive Lawrenceville, GA 30044

3 Beds 3 Baths 2,500 sqft Built 1985

$255,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $102.00
  • 1 Days on Market
  • MLS # : 6834274
  • Updated Date : 01/30/2021 at 22:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,500 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Fresh and beautiful traditional two story with lots of space and finished play room in basement. Updated and convenient kitchen that any cook will love plus lots of storage and white cabinets with granite counters. Big breakfast area overlooks sunroom which adjoins spacious deck and overlooks fenced backyard. Recently painted inside and out. New floors are easy care vinyl plank flooring on main with new carpet up. Bathrooms renovated with granite and new fixtures. Laundry room located off breakfast area. Basement has extra unfinished storage space. Two car garage.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (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).
  • 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 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Zip Code: 30044

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k227k

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

Zip Code: 30044

ZipNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9481552

* 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
Cedar Hill Elementary School Primary Regular 1,352 91 5
Richards Middle School Middle Regular 1,571 95 5
Discovery High School High Regular NA

Cedar Hill Elementary School

  • Education Level: Primary
  • # of students: 1,352
  • # of teachers: 91
5
GreatSchools Rating

Richards Middle School

  • Education Level: Middle
  • # of students: 1,571
  • # of teachers: 95
5
GreatSchools Rating

Discovery High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$886
Property Tax -$306
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$304

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.

$255,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.8%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$37,670

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,738

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6903$1,7004$1,7755$1,800
$1,800
RENT COMPS ANALYSIS
  • 1516 Se Scholar Drive Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.68
    •  
  • 381 Freshman Drive Lawrenceville, GA 1
    • 4 beds 3 baths ∙ 2,353 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,353 Sqft ∙ Built 1985
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.66
    •  
  • 3721 Alamosa Court Lawrenceville, GA 3
    • 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2004
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.71
    •  
  • 2020 Hunters Trail Drive Lawrenceville, GA 4
    • 3 beds 4 baths ∙ 2,648 Sqft ∙ Built 1992 3 beds 4 baths ∙ 2,648 Sqft ∙ Built 1992
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.67
    •  
  • 2024 Longmont Drive Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 2004
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
PROPERTY LISTING DETAILS
Joyce Ray
1.404.316.2299
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6834274
Last Updated: 01/30/2021
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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