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1797 Scholar Drive Lawrenceville, GA 30044

3 Beds 3 Baths 2,523 sqft Built 1987

$199,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $78.87
  • 4 Days on Market
  • MLS # : 6817692
  • Updated Date : 01/01/2021 at 13:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,523 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

*LOCATION,LOCATION! SOLD AS IS! This is and excellent investment property with a basement. Brand New Roof. The home does need some of TLC but you cant beat the location. Houses in the area are going for over $250,000.00. Great schools and shopping very near by. This is a fixer upper in great shape and lots of space. HVAC and both garage doors were replaced while in current ownership. Septic was serviced 12/10/2020. Highest and Best by Monday 1/4 at 3 pm.

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: 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
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$734
Property Tax -$282
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
$419

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.

$199,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.82%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

13.58

YEARS SAVED

$51,166

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,716

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6303$1,7154$1,7755$1,800
$1,800
RENT COMPS ANALYSIS
  • 1797 Scholar Drive Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 2,523 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,523 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.65
    •  
  • 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
    •  
  • 722 Altman Court Lawrenceville, GA 3
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 1987
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,715
    • $0.65
    •  
  • 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
Jose Silverio
1.770.899.6497
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6817692
Last Updated: 01/01/2021
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. © 2017 First Multiple Listing Service, Inc.

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