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1894 Norcross Chase Circle Lawrenceville, GA 30044

3 Beds 3 Baths 1,268 sqft Built 1993

$205,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $161.67
  • 3 Days on Market
  • MLS # : 6836274
  • Updated Date : 02/06/2021 at 17:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,268 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This SUPER ADORABLE townhome is a rare find in this subdivision. Situated in a Prime Location. This home features new hardwood floors, fresh paint, move in condition and offers plenty of natural light. The dining room is separated from the family room and the beautiful kitchen with newer appliances. ROOF IS ONLY 7 MONTHS OLD. 3 generous size bedrooms with an amazing walk-in closet in the Master bedroom. This home features a large fenced in backyard and plenty of parking. Centrally located near supermarkets, restaurants, shopping centers, and a quick access to I85.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
Benefield Elementary School Primary Regular 1,339 93 7
Richards Middle School Middle Regular 1,571 95 5
Discovery High School High Regular NA

Benefield Elementary School

  • Education Level: Primary
  • # of students: 1,339
  • # of teachers: 93
7
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
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$712
Property Tax -$246
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$131

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.

$205,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$712

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$18,222

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,103

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2603$1,325
$1,325
RENT COMPS ANALYSIS
  • 1894 Norcross Chase Circle Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 1,268 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,268 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.99
    •  
  • 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
    •  
  • 1614 Lamancha Drive Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1973
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.88
    •  
PROPERTY LISTING DETAILS
Tamara Roberts Hodges
1.678.542.8850
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6836274
Last Updated: 02/06/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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