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1850 Lee Patrick Drive Dacula, GA 30019

4 Beds 3 Baths 2,646 sqft Built 2000

$305,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $115.27
  • 3 Days on Market
  • MLS # : 6805434
  • Updated Date : 11/07/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,646 sqft
  • Baths : 3 full
Listing Agent's Description

Exceptional maintained Home ready for your personal touches! Updated floor plan w/main floor guest bedroom and separate bathroom. Private larger lot in Archer HS District. Great private master suite w/walk-in closet & vaulted spa-type bath. All bedrooms are generous sized w/walk-in closets. All upstairs baths feature dual vanities. Bonus/4th bedroom is HUGE w/full custom-built bookcase/storage system. Perfect for those needing home office space. Hurry! Must See!

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: 30019

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30019

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
Harbins Elementary School Primary Regular 978 70 6
Mcconnell Middle School Middle Regular 1,666 93 8
Archer High School High Regular 2,432 121 8

Harbins Elementary School

  • Education Level: Primary
  • # of students: 978
  • # of teachers: 70
6
GreatSchools Rating

Mcconnell Middle School

  • Education Level: Middle
  • # of students: 1,666
  • # of teachers: 93
8
GreatSchools Rating

Archer High School

  • Education Level: High
  • # of students: 2,432
  • # of teachers: 121
8
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,125
Property Tax -$370
Property Insurance -$78
HOA -$44
Property Management Fees -$119
CASH FLOW
$64

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.

$305,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.3%
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$5.0k$10k$15k

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$22,193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,813

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,7253$1,7454$1,8005$1,950
$1,950
RENT COMPS ANALYSIS
  • 1850 Lee Patrick Drive Dacula, GA 4
    • 4 beds 3 baths ∙ 2,646 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,646 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.68
    •  
  • 1418 Great Shoals Circle Lawrenceville, GA 1
    • 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.66
    •  
  • 3046 Dolostone Way Dacula, GA 2
    • 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2015
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.68
    •  
  • 2514 Dolostone Way Dacula, GA 3
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2017
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.71
    •  
  • 1425 Union Station Court Lawrenceville, GA 5
    • 5 beds 3 baths ∙ 2,831 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,831 Sqft ∙ Built 2015
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.69
    •  
PROPERTY LISTING DETAILS
Franmicka Ford
1.404.862.7972
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805434
Last Updated: 11/07/2020
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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