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2218 Cedar Drive Lawrenceville, GA 30043

4 Beds 4 Baths 2,400 sqft Built 1973

$259,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $107.92
  • 1 Days on Market
  • MLS # : 6834484
  • Updated Date : 01/31/2021 at 00:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,400 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

COME TO SEE AND MAKE AN OFFER TODAY! 4B3.5BTH HOME. BEAUTIFULLY AND FULLY UPDATED, THIS HARD TO FIND 4 BEDROOM 3 1/2 BATH ON A HALF ACRE IS MOVE IN READY! WHITE CABINETS WITH GRANITE COUNTERS IN THIS GORGEOUS KITCHEN . FORMAL DINING ROOM OPENS TO A SPACIOUS LIVING ROOM PERFECT FOR ENTERTAINING! FAMILY ROOM WITH A COZY FIREPLACE AND AND BRICK ACCENT WALL. NEAR SHOPPING CENTER AND CONVENIENT LOCATION.

SEE MORE

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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)
  • #1 World’s Busiest Airport(Airports Council International, 2018)

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
Woodward Mill Elementary School Primary Regular 1,013 63 7
Twin Rivers Middle School Middle Regular 1,570 85 9
Mountain View High School High Regular 2,103 100 7

Woodward Mill Elementary School

  • Education Level: Primary
  • # of students: 1,013
  • # of teachers: 63
7
GreatSchools Rating

Twin Rivers Middle School

  • Education Level: Middle
  • # of students: 1,570
  • # of teachers: 85
9
GreatSchools Rating

Mountain View High School

  • Education Level: High
  • # of students: 2,103
  • # of teachers: 100
7
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$900
Property Tax -$311
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
$397

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.

$259,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.69%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$49,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,836

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,8004$1,8005$2,195
$2,195
RENT COMPS ANALYSIS
  • 2218 Cedar Drive Lawrenceville, GA 4
    • 4 beds 4 baths ∙ 2,400 Sqft ∙ Built 1973 4 beds 4 baths ∙ 2,400 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
  • 2020 Whitebluff Way Buford, GA 1
    • 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 1986
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.73
    •  
  • 331 Clarion Road Lawrenceville, GA 2
    • 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
    •  
  • 600 Rosedown Way Lawrenceville, GA 3
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 1992
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 2052 Perrin Drive Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 1992
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.82
    •  
PROPERTY LISTING DETAILS
Tin Ha
1.773.600.7828
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6834484
Last Updated: 01/31/2021
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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