Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1950 Meyers Drive Lawrenceville, GA 30045

3 Beds 3 Baths 1,848 sqft Built 1996

$245,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $132.58
  • 4 Days on Market
  • MLS # : 6828099
  • Updated Date : 01/16/2021 at 10:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,848 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Picture Perfect! Meticulously cared for 2 story traditional w/3 BR, 2.5 baths. You'll love the rocking chair front porch with swing! Large great room w/fireplace, nice size separate dining room, and fabulous kitchen w/granite & tile backsplash, SS appliances; breakfast area, pantry and half bath. Oversize owner's suite w/spa bath, separate shower - all updated; plus large walk-in closet w/built in ironing board. Additional bedrooms w/shared bath, recently remodeled. Ceiling fans throughout! Hardwood floors on main. You will love the wonderful outdoor living! Double

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Zip Code: 30045

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k227k

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

Zip Code: 30045

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9731610

* 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
Lovin Elementary School Primary Regular 883 64 6
Mcconnell Middle School Middle Regular 1,666 93 8
Archer High School High Regular 2,432 121 8

Lovin Elementary School

  • Education Level: Primary
  • # of students: 883
  • # of teachers: 64
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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$851
Property Tax -$294
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$103

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.

$245,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.8%
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$900k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$17,088

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,451

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,5003$1,5004$1,5505$1,725
$1,725
RENT COMPS ANALYSIS
  • 1950 Meyers Drive Lawrenceville, GA 1
    • 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.77
    •  
  • 1898 White Top Road Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2005
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.72
    •  
  • 1212 Royal Ives Court Lawrenceville, GA 3
    • 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 2002
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 1214 Bramlett Creek Place Lawrenceville, GA 4
    • 4 beds 3 baths ∙ 1,948 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,948 Sqft ∙ Built 2002
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 825 Donington Circle Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2015
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.79
    •  
PROPERTY LISTING DETAILS
Betsy C Candler
1.678.472.8100
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828099
Last Updated: 01/16/2021
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. © 2017 First Multiple Listing Service, Inc.

BESbswy