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2238 Cedar Drive Lawrenceville, GA 30043

4 Beds 3 Baths 2,036 sqft Built 1973

$259,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $127.65
  • 5 Days on Market
  • MLS # : 6813580
  • Updated Date : 12/10/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,036 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

BEAUTIFULLY UPDATED THIS HARD TO FIND 4 BEDROOM 2 1/2 BATH ON A HALF ACRE IS MOVE IN READY! WHITE CABINETS WITH GRANITE COUNTERS AWAITS IN THIS GORGEOUS EAT IN KITCHEN. FORMAL DINING ROOM OPENS TO A SPACIOUS LIVING ROOM PERFECT FOR ENTERTAINING! FAMILY ROOM WITH A COZY FIREPLACE AND AND BRICK ACCENT WALL WITH A BEAM MANTLE! FOUR NICE SIZE ROOMS AND TWO FULL BATHS UPSTAIRS! EXTRA LARGE UNFINISHED PARTIAL BASEMENT ! THIS ONE WONT LAST LONG!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • 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)

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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$959
Property Tax -$312
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$94

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.

$259,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$23,527

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,670

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,5954$1,6255$1,775
$1,775
RENT COMPS ANALYSIS
  • 2238 Cedar Drive Lawrenceville, GA 2
    • 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
  • 2110 Whitebluff Way Buford, GA 1
    • 3 beds 3 baths ∙ 1,809 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,809 Sqft ∙ Built 1986
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.83
    •  
  • 871 Thousand Oaks Drive Lawrenceville, GA 3
    • 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 1987
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
  • 1918 Kelvin Drive Lawrenceville, GA 4
    • 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 1986
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.80
    •  
  • 2909 Sterling Drive Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,149 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,149 Sqft ∙ Built 1988
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.83
    •  
PROPERTY LISTING DETAILS
Margo Barnes
1.678.858.8738
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6813580
Last Updated: 12/10/2020
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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