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1748 Kelvin Drive Lawrenceville, GA 30043

3 Beds 3 Baths 2,200 sqft Built 1987

$285,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $129.55
  • 6 Days on Market
  • MLS # : 6822332
  • Updated Date : 12/30/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,200 sqft
  • Baths : 3 full
Listing Agent's Description

This charming two story Nantucket Style home has lots of space and beautiful upgrades. 3 BR/ 3BA. You enter into a spacious Great room with oversized masonry fireplace. There are hardwood floors and tile throughout. Generous Formal Dining room with crown molding. Excellent kitchen area with new dark wood cabinets and elegant granite countertops. All appliances are stainless and new. Gas top cooking in roomy kitchen.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Taylor Elementary School Primary Regular 927 64 7
Creekland Middle School Middle Regular 2,157 129 6
Collins Hill High School High Regular 3,148 157 8

Taylor Elementary School

  • Education Level: Primary
  • # of students: 927
  • # of teachers: 64
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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,052
Property Tax -$336
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$34

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.

$285,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.56%

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-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$19,317

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,678

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$1,6503$1,6504$1,6955$1,900
$1,900
RENT COMPS ANALYSIS
  • 1748 Kelvin Drive Lawrenceville, GA 1
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.73
    •  
  • 510 Montrachet Court Lawrenceville, GA 2
    • 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 1999
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 1492 Creekland Cove Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 2,049 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,049 Sqft ∙ Built 1979
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 1652 Taylor Oaks Ridge Lawrenceville, GA 4
    • 4 beds 3 baths ∙ 2,323 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,323 Sqft ∙ Built 1999
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.73
    •  
  • 600 Rosedown Way Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 1992
    property image
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.80
    •  
PROPERTY LISTING DETAILS
Mark Spain
1.770.886.9000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6822332
Last Updated: 12/30/2020
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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