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1955 Indian Trail Lilburn Road #303 Norcross, GA 30071

3 Beds 2 Baths 1,711 sqft Built 1986

$159,990

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1986
  • Price/Sqft : $93.51
  • 9 Days on Market
  • MLS # : 6801128
  • Updated Date : 10/28/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,711 sqft
  • Baths : 2 full
Listing Agent's Description

Beautifully maintained and immaculate 2 level home in Norcross! New HVAC in 2019, brand new dishwasher and electric range, New wall tile in master bath! Open concept main level features large family room with fire place, sunroom with door to deck, dining room, and spacious kitchen. In addition, there are two main level bedrooms sharing a full bath. Upstairs is a huge owner's suite with large walk-in closet, vanity, and separate bath. 2 reserved parking spaces, tons of storage, beautiful natural light, great location, beautiful community pool, and much more!

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

Neighborhood: Norcross

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Norcross

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $8172702

* 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
Beaver Ridge Elementary School Primary Regular 1,300 89 5
Summerour Middle School Middle Regular 1,561 101 5
Norcross High School High Regular 3,738 204 5

Beaver Ridge Elementary School

  • Education Level: Primary
  • # of students: 1,300
  • # of teachers: 89
5
GreatSchools Rating

Summerour Middle School

  • Education Level: Middle
  • # of students: 1,561
  • # of teachers: 101
5
GreatSchools Rating

Norcross High School

  • Education Level: High
  • # of students: 3,738
  • # of teachers: 204
5
GreatSchools Rating
 

$143,991$175,989$159,990

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$590
Property Tax -$187
Property Insurance -$60
HOA -$230
Property Management Fees -$119
CASH FLOW
$313

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.

$159,990

PROJECTED PRICE

$1,500

PROJECTED RENT

0.94%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.5%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,147

INVESTMENT

$48,147

Down Payment
$39,998
Rehab Estimate
$5,750
Closing Costs
$2,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$590

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $39,998
Loan Amount $119,993
See What Happens When You Reinvest Cash Flow

10.92

YEARS SAVED

$31,139

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,583

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,3954$1,5005$1,600
$1,600
RENT COMPS ANALYSIS
  • 1955 Indian Trail Lilburn Road Norcross, GA 4
    • 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 2468 Windmere Drive Norcross, GA 1
    • 4 beds 2 baths ∙ 1,516 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,516 Sqft ∙ Built 1970
    property image
    LEASED 06/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 2047 Montgomery Trail Duluth, GA 2
    • 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1984
    property image
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 5165 Falconwood Court Norcross, GA 3
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1978
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
  • 4917 Royal Drive Duluth, GA 5
    • 3 beds 4 baths ∙ 1,600 Sqft ∙ Built 1982 3 beds 4 baths ∙ 1,600 Sqft ∙ Built 1982
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
Mary Beth Mclaughlin
1.404.509.8767
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6801128
Last Updated: 10/28/2020
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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