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244 Russell Road Lawrenceville, GA 30043

3 Beds 2 Baths 1,773 sqft Built 1970

$125,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1970
  • Price/Sqft : $70.50
  • 2 Days on Market
  • MLS # : 6803755
  • Updated Date : 11/02/2020 at 23:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,773 sqft
  • Baths : 2 full
Listing Agent's Description

Great investor opportunity! All brick 3 bedroom, 2 bath ranch home on a large lot. Property as an open floor plan and plenty of potential. Being sold as-is.***HIGHEST AND BEST DUE BY 11/3/20 AT 3 P.M. WITH AN ANSWER BY 11/5/20.

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: 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
Taylor Elementary School Primary Regular 927 64 7
Creekland Middle School Middle Regular 2,157 129 6
Collins Hill High School High Regular 3,148 157 8

Taylor Elementary School

  • Education Level: Primary
  • # of students: 927
  • # of teachers: 64
7
GreatSchools Rating

Creekland Middle School

  • Education Level: Middle
  • # of students: 2,157
  • # of teachers: 129
6
GreatSchools Rating

Collins Hill High School

  • Education Level: High
  • # of students: 3,148
  • # of teachers: 157
8
GreatSchools Rating
 

$112,500$137,500$125,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$461
Property Tax -$210
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$458

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.

$125,000

PROJECTED PRICE

$1,310

PROJECTED RENT

1.05%

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

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$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$38,875

INVESTMENT

$38,875

Down Payment
$31,250
Rehab Estimate
$5,750
Closing Costs
$1,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$461

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $31,250
Loan Amount $93,750
See What Happens When You Reinvest Cash Flow

17.67

YEARS SAVED

$43,391

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,472

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,4503$1,5004$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 244 Russell Road Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.74
    •  
  • 622 Brighton Drive Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1978
    property image
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 1766 Suwanee Valley Road Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1987
    property image
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.81
    •  
  • 965 Meadowsong Circle Lawrenceville, GA 4
    • 4 beds 3 baths ∙ 1,977 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,977 Sqft ∙ Built 1988
    property image
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 2271 Stag Run Suwanee, GA 5
    • 4 beds 4 baths ∙ 1,994 Sqft ∙ Built 1984 4 beds 4 baths ∙ 1,994 Sqft ∙ Built 1984
    property image
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
PROPERTY LISTING DETAILS
Maggie Cook
1.770.765.6491
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803755
Last Updated: 11/02/2020
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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