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189 Mill Ridge Court Lawrenceville, GA 30046

3 Beds 2 Baths 1,402 sqft Built 1983

$234,900

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $167.55
  • 4 Days on Market
  • MLS # : 6815037
  • Updated Date : 12/04/2020 at 17:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,402 sqft
  • Baths : 2 full
Listing Agent's Description

Original owner! Charming ranch with unfinished basement on large cul-de-sac and wooded lot! Updates throughout kitchen & master bath, new interior paint, stained trims and doors, new carpet, new garage doors and newer HVAC. Great floor plan with a large living room highlighted by a beautiful, stone fireplace, formal dining room, and eat-in-kitchen- perfect for entertaining or family gatherings.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Zip Code: 30046

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $82k227k

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

Zip Code: 30046

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8171552

* 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
Margaret Winn Holt Elementary School Primary Regular 1,172 81 5
Moore Middle School Middle Regular 1,011 63 6
Central Gwinnett High School High Regular 2,748 152 5

Margaret Winn Holt Elementary School

  • Education Level: Primary
  • # of students: 1,172
  • # of teachers: 81
5
GreatSchools Rating

Moore Middle School

  • Education Level: Middle
  • # of students: 1,011
  • # of teachers: 63
6
GreatSchools Rating

Central Gwinnett High School

  • Education Level: High
  • # of students: 2,748
  • # of teachers: 152
5
GreatSchools Rating
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$867
Property Tax -$247
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$83

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$234,900

PROJECTED PRICE

$1,370

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$14,949

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,195

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3703$1,4004$1,4505$1,480
$1,480
RENT COMPS ANALYSIS
  • 189 Mill Ridge Court Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.98
    •  
  • 50 Trudy Court Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1994
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.86
    •  
  • 1340 Monfort Road Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1975
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.83
    •  
  • 965 Dogwood Park Drive Lawrenceville, GA 4
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1996
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 945 Clairidge Lane Lawrenceville, GA 5
    • 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 2002
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.86
    •  
PROPERTY LISTING DETAILS
Hermes Realty Group
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815037
Last Updated: 12/04/2020
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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