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18 Melody Lane Lawrenceville, GA 30043

3 Beds 3 Baths 1,988 sqft Built 1974

$228,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $114.69
  • 7 Days on Market
  • MLS # : 6800984
  • Updated Date : 10/30/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,988 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Great Remodeled home located on beautiful HUGE level corner lot right off 316 in Lawrenceville. This home sits across street from Georgia Gwinnett College on Collins hill rd. Easy access to 316 or I 85. Home has 3 levels for living. A Great Room downstairs and a separate living room and dining room for you to enjoy gatherings. Upstairs has 3 Bedrooms. Backyard is great for fun and entertaining and is already fenced in. This one will sell Quick!

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
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
 

$205,200$250,800$228,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$841
Property Tax -$273
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$151

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.

$228,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.64%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,170

INVESTMENT

$66,170

Down Payment
$57,000
Rehab Estimate
$5,750
Closing Costs
$3,420

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,000
Loan Amount $171,000
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$27,709

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,546

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,5254$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 18 Melody Lane Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 1,988 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,988 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.73
    •  
  • 380 Fountainmist Trail Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1991
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
  • 268 Indian Branch Way Lawrenceville, GA 3
    • 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1989
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.74
    •  
  • 1694 Watercrest Circle Lawrenceville, GA 4
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1993
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 1405 Glenfield Drive Lawrenceville, GA 5
    • 3 beds 2 baths ∙ 2,065 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,065 Sqft ∙ Built 1992
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
PROPERTY LISTING DETAILS
Mario Fermin
1.770.899.4171
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6800984
Last Updated: 10/30/2020
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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