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2194 Oakland Farm Drive Lawrenceville, GA 30044

3 Beds 2 Baths 1,560 sqft Built 1999

$250,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $160.26
  • 13 Days on Market
  • MLS # : 6777424
  • Updated Date : 01/06/2021 at 20:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,560 sqft
  • Baths : 2 full
Listing Agent's Description

Don't miss the opportunity to own this well maintained ranch style home in the heart of Lawrenceville. Kitchen completely remodeled with granite countertops and white cabinets, stainless steel appliances and new floors. New bathroom floors, carpet, front and back door. Newer roof. Fenced backyard. This house is conveniently located to shopping and main highway exits. No HOA.

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).
  • #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)
  • 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: 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
Baggett Elementary School Primary Regular NA
Richards Middle School Middle Regular 1,571 95 5
Discovery High School High Regular NA

Baggett Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$868
Property Tax -$300
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$5

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.

$250,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.54%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$10,055

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,346

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4494$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 2194 Oakland Farm Drive Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.87
    •  
  • 1885 Grouse Court Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1990
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.83
    •  
  • 2184 Crystal Lake Drive Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1987
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.87
    •  
  • 2002 Steffi Lane Lawrenceville, GA 4
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1994
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 997 Walnut Drive Lawrenceville, GA 5
    • 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 1985
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
PROPERTY LISTING DETAILS
Elizabeth Henriquez
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6777424
Last Updated: 01/06/2021
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.

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