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1980 Hunters Ridge Drive Lawrenceville, GA 30044

3 Beds 3 Baths 1,978 sqft Built 1987

$244,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $123.81
  • 2 Days on Market
  • MLS # : 6856364
  • Updated Date : 03/20/2021 at 16:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,978 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

3 Bedroom 2 1/2 Bath 2-story home with Master on Main. Family room with fireplace, cathedral ceiling. Formal Living room, separate Dining room. Kitchen has a new range/oven and microwave, breakfast area, pantry and view of the family room. Large Master on main with separate garden tub and shower, his & hers closets, double vanity. Large Laundry room with plenty of room for extra storage. Plenty of natural light to enjoy. Upstairs are 2 guest bedrooms and full bath. Home is 2 sided brick. Beautiful, private backyard w/covered patio and large wood deck and fully fenced.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30044

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k227k

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

Zip Code: 30044

ZipNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9481552

* 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
Cedar Hill Elementary School Primary Regular 1,352 91 5
Richards Middle School Middle Regular 1,571 95 5
Discovery High School High Regular NA

Cedar Hill Elementary School

  • Education Level: Primary
  • # of students: 1,352
  • # of teachers: 91
5
GreatSchools Rating

Richards Middle School

  • Education Level: Middle
  • # of students: 1,571
  • # of teachers: 95
5
GreatSchools Rating

Discovery High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$851
Property Tax -$294
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$111

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.

$244,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.8%
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$200k$400k$600k$800k

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$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

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 $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$17,705

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,582

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,4453$1,5454$1,6505$1,825
$1,825
RENT COMPS ANALYSIS
  • 1980 Hunters Ridge Drive Lawrenceville, GA 1
    • 3 beds 3 baths ∙ 1,978 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,978 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.73
    •  
  • 675 Carriage Court Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1987
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.78
    •  
  • 580 Inglenook Drive Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 2,054 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,054 Sqft ∙ Built 1984
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.75
    •  
  • 1961 Sumter Court Lawrenceville, GA 4
    • 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 1985
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 2025 Portsmouth Court Lawrenceville, GA 5
    • 3 beds 3 baths ∙ 2,110 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,110 Sqft ∙ Built 1986
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.86
    •  
PROPERTY LISTING DETAILS
Lori Alexander
1.404.925.9900
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6856364
Last Updated: 03/20/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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