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2040 Lakewood Trace Grayson, GA 30017

3 Beds 3 Baths 2,340 sqft Built 1987

$269,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $115.34
  • 6 Days on Market
  • MLS # : 6820600
  • Updated Date : 12/23/2020 at 21:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,340 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful new listing in fabulous Waterton Community! Owners of this home have added over $50k worth of upgrades! Attention to detail was the focus & they exceeded that! The buyer will enjoy all new paint inside and outside! Kitchen offers open concept to family room with new granite countertops, stainless appliances & breakfast bar! TWO Fireplaces – one in great room, one in family room! All new lighting/ceiling fans throughout the home! Not a fan of carpet? No problem, you will not find one stretch of carpet in this beautiful home ALL Hardwood Flooring & Tile

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

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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$996
Property Tax -$282
Property Insurance -$72
HOA -$71
Property Management Fees -$119
CASH FLOW
-$50

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.

$269,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$11,071

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,527

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5003$1,6004$1,6295$1,700
$1,700
RENT COMPS ANALYSIS
  • 2040 Lakewood Trace Grayson, GA 1
    • 3 beds 3 baths ∙ 2,340 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,340 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.64
    •  
  • 1981 Shoreline Trace Grayson, GA 2
    • 3 beds 2 baths ∙ 2,378 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,378 Sqft ∙ Built 1982
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.63
    •  
  • 2735 Meadow Trace Drive Grayson, GA 3
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 2006
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.68
    •  
  • 1144 Lakeview Road Grayson, GA 4
    • 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 1986
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,629
    • $0.64
    •  
  • 1909 Cooper Lakes Drive Grayson, GA 5
    • 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2005
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.66
    •  
PROPERTY LISTING DETAILS
Melissa English
1.706.521.9833
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820600
Last Updated: 12/23/2020
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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