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

1956 Lake Ridge Terrace Lawrenceville, GA 30043

3 Beds 2 Baths 2,012 sqft Built 1978

$264,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $131.66
  • 2 Days on Market
  • MLS # : 6812264
  • Updated Date : 11/29/2020 at 00:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,012 sqft
  • Baths : 2 full
Listing Agent's Description

WoW!! New Listing in Collins Hill *Amazing Corner Dbl Lot w/3BR/2BA Ranch on 1 acre private w/Storage Building *Beautiful Hardwood Floors throughout *All New Kitchen w/White Shaker Soft Close Cabinets, Gorgeous Granite Countertops, Glass Backsplash, New SS Sink, Faucet, Lighting & Stainless Steel Appliances *Refrigerator, Washer & Dryer Included *Large Master Bedroom opens to Great Screened in Porch ready for you to enjoy your morning Coffee *All New Designer Interior Paint *All Replaced 7yrs ago, Roof, HVAC, Hardy Plank Siding, Insulated Windows, Attic Insulation

SEE MORE

MARKET HIGHLIGHTS

  • 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 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)
  • #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)

PRICE & RENT TRENDS

Zip Code: 30043

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30043

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
Walnut Grove Elementary School Primary Regular 903 60 8
Creekland Middle School Middle Regular 2,157 129 6
Collins Hill High School High Regular 3,148 157 8

Walnut Grove Elementary School

  • Education Level: Primary
  • # of students: 903
  • # of teachers: 60
8
GreatSchools Rating

Creekland Middle School

  • Education Level: Middle
  • # of students: 2,157
  • # of teachers: 129
6
GreatSchools Rating

Collins Hill High School

  • Education Level: High
  • # of students: 3,148
  • # of teachers: 157
8
GreatSchools Rating
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$977
Property Tax -$318
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$40

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.

$264,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.1%
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-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$18,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,610

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5953$1,6254$1,6505$1,775
$1,775
RENT COMPS ANALYSIS
  • 1956 Lake Ridge Terrace Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.76
    •  
  • 871 Thousand Oaks Drive Lawrenceville, GA 2
    • 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 1987
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
  • 1918 Kelvin Drive Lawrenceville, GA 3
    • 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 1986
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.80
    •  
  • 331 Clarion Road Lawrenceville, GA 4
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1991
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 2909 Sterling Drive Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,149 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,149 Sqft ∙ Built 1988
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.83
    •  
PROPERTY LISTING DETAILS
Beverly Wellborn
1.404.226.8660
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6812264
Last Updated: 11/29/2020
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.

BESbswy