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2236 Rhett Court Lawrenceville, GA 30044

5 Beds 3 Baths 2,718 sqft Built 1975

INVESTimate

$240,000

List Price

$1,640

$1,476 - $1,804

Rent Est.

$261,048  ( +8.77%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1975
  • Price/Sqft : $88.30
  • 8 Days on Market
  • MLS # : 6768437
  • Updated Date : 08/25/2020 at 17:35
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,718 sqft
  • Baths : 3 full
Listing Agent's Description

Wow! 5 bedroom 3 bath home located in great area. Home features include brick fireplace for those cozy nights, large eat in kitchen, formal dining open to the large living room. Large master bedroom, walk-in closet and 2 additional secondary bedrooms on an upper level. Bright Finished terrace level with large den, full bathroom and 2 bedrooms. Terrace level has unlimited options-teenagers or in-law suite OR it could be converted to an extra income producing with a separate front and back exterior entrance. Beautiful level fenced yard. Close to 316 and I-85.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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: 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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$886
Property Tax -$288
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
$268

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.

$240,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.77%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$38,671

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $1,780

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6953$1,900
$1,900
RENT COMPS ANALYSIS
  • 2236 Rhett Court Lawrenceville, 1
    • 5 beds 3 baths ∙ 2,718 Sqft ∙ Built 1975 5 beds 3 baths ∙ 2,718 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.60
    •  
  • 775 Wyndham Place Circle Lawrenceville, 2
    • 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 1992
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.65
    •  
  • 1345 Carlysle Park Drive Lawrenceville, 3
    • 4 beds 3 baths ∙ 2,858 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,858 Sqft ∙ Built 1994
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.66
    •  
PROPERTY LISTING DETAILS
Liliya Kapilevich
1.678.481.4486
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6768437
Last Updated: 08/25/2020
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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