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1935 Lakewood Trace Grayson, GA 30017

5 Beds 3 Baths 2,324 sqft Built 1987

$307,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $132.10
  • 3 Days on Market
  • MLS # : 6812655
  • Updated Date : 12/12/2020 at 08:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,324 sqft
  • Baths : 3 full
Listing Agent's Description

Welcome Home ~ Hard to find 5 bedroom, 3 bathroom brick front ranch on a finished basement nestled in your own private oasis in the sought after Waterton Subdivision, Grayson Schools. Large Family room with trey ceiling and brick fireplace and a beautiful 12 seating dining room with double trey ceiling with a picturesque Bay window. Recently updated open concept kitchen with granite counters, new electric cooktop, breakfast area with skylights and a conveniently located spacious oversized laundry room.

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (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)
  • #1 Most affordable big city (WalletHub, 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)
  • 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)

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
Grayson Elementary School Primary Regular 831 59 9
Bay Creek Middle School Middle Regular 1,079 56 7
Grayson High School High Regular 2,767 155 7

Grayson Elementary School

  • Education Level: Primary
  • # of students: 831
  • # of teachers: 59
9
GreatSchools Rating

Bay Creek Middle School

  • Education Level: Middle
  • # of students: 1,079
  • # of teachers: 56
7
GreatSchools Rating

Grayson High School

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

$276,300$337,700$307,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,133
Property Tax -$320
Property Insurance -$72
HOA -$71
Property Management Fees -$119
CASH FLOW
-$75

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.

$307,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.53%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,105

INVESTMENT

$87,105

Down Payment
$76,750
Rehab Estimate
$5,750
Closing Costs
$4,605

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,133

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,750
Loan Amount $230,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,369

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,604

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,629
1$1,6292$1,6403$1,7004$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 1935 Lakewood Trace Grayson, GA 2
    • 5 beds 3 baths ∙ 2,324 Sqft ∙ Built 1987 5 beds 3 baths ∙ 2,324 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.71
    •  
  • 1144 Lakeview Road Grayson, GA 1
    • 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 1986
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,629
    • $0.64
    •  
  • 1909 Cooper Lakes Drive Grayson, GA 3
    • 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2005
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.66
    •  
  • 2209 Swan Lake Court Grayson, GA 4
    • 5 beds 3 baths ∙ 2,672 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,672 Sqft ∙ Built 2003
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.67
    •  
  • 1900 Cooper Lakes Drive Grayson, GA 5
    • 4 beds 3 baths ∙ 2,291 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,291 Sqft ∙ Built 2005
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
PROPERTY LISTING DETAILS
Emily Hamil
1.678.472.0895
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6812655
Last Updated: 12/12/2020
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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