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1702 Mckendree Lake Drive Lawrenceville, GA 30043

4 Beds 3 Baths 1,852 sqft Built 1994

$255,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $137.69
  • 4 Days on Market
  • MLS # : 6803311
  • Updated Date : 11/02/2020 at 11:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,852 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Hard to find at this price in Collins Hill district! 2-story, 4-bedroom, basement, large fenced backyard and level driveway! Beautiful curb appeal and landscaping. Check the split drive way! Formal Living Room plus Family Room. Dining Room plus sunny Breakfast area with bay window wall. Master bedroom offers his/hers closets and double vanities. Large vanity in hall bath. Basement has some drywall installed. Easy maintenance exterior siding. Large backyard is perfect for the kids, pets or your garden.

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: 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
Mckendree Elementary School Primary Regular 1,098 72 7
Creekland Middle School Middle Regular 2,157 129 6
Collins Hill High School High Regular 3,148 157 8

Mckendree Elementary School

  • Education Level: Primary
  • # of students: 1,098
  • # of teachers: 72
7
GreatSchools Rating

Creekland Middle School

  • Education Level: Middle
  • # of students: 2,157
  • # of teachers: 129
6
GreatSchools Rating

Collins Hill High School

  • Education Level: High
  • # of students: 3,148
  • # of teachers: 157
8
GreatSchools Rating
 

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

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$941
Property Tax -$306
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$161

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

$1,590

PROJECTED RENT

0.62%

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$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

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$30,387

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,648

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5903$1,6004$1,6505$1,895
$1,895
RENT COMPS ANALYSIS
  • 1702 Mckendree Lake Drive Lawrenceville, GA 2
    • 4 beds 3 baths ∙ 1,852 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,852 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.86
    •  
  • 1330 Winding Wood Way Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1992
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 1553 Hayden Mill Way Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 2000
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 1390 Shady Cove Lane Lawrenceville, GA 4
    • 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 1987
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 839 Michael Lee Way Lawrenceville, GA 5
    • 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 1993
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.92
    •  
PROPERTY LISTING DETAILS
Lin Stadler Perry
1.678.414.4400
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803311
Last Updated: 11/02/2020
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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