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1920 Nicholas Lane Grayson, GA 30017

3 Beds 2 Baths 1,920 sqft Built 1989

$255,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $132.81
  • 7 Days on Market
  • MLS # : 6802802
  • Updated Date : 10/31/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,920 sqft
  • Baths : 2 full
Listing Agent's Description

Super well maintained ranch on level lot. Open foyer to vaulted ceiling in great room with fireplace with marble. Large bright Kitchen with lots of cabinets, pantry and breakfast bar. Master suite has tray ceiling. Master bathroom with double vanities and oversized walk-in closet. Level back yard has 2 storage buildings.

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: 30017

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30017

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
Pharr Elementary School Primary Regular 658 51 9
Couch Middle School Middle Regular 996 52 9
Grayson High School High Regular 2,767 155 7

Pharr Elementary School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 51
9
GreatSchools Rating

Couch Middle School

  • Education Level: Middle
  • # of students: 996
  • # of teachers: 52
9
GreatSchools Rating

Grayson High School

  • Education Level: High
  • # of students: 2,767
  • # of teachers: 155
7
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$941
Property Tax -$266
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$120

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.

$255,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.2%
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$16k

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$26,711

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,589

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5104$1,5655$1,645
$1,645
RENT COMPS ANALYSIS
  • 1920 Nicholas Lane Grayson, GA 3
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.79
    •  
  • 1970 Shoreline Trace Grayson, GA 1
    • 4 beds 2 baths ∙ 1,883 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,883 Sqft ∙ Built 1982
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
  • 1964 North Road Snellville, GA 2
    • 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 1973
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.82
    •  
  • 2041 Hutton Drive Grayson, GA 4
    • 4 beds 3 baths ∙ 1,808 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,808 Sqft ∙ Built 1986
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.87
    •  
  • 1315 Cone Circle Grayson, GA 5
    • 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 1985
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.85
    •  
PROPERTY LISTING DETAILS
Sylvia B Clower
1.404.626.6566
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6802802
Last Updated: 10/31/2020
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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