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2504 Morning Glory Lane Nw Lawrenceville, GA 30044

3 Beds 2 Baths 1,320 sqft Built 1996

$240,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $181.82
  • 3 Days on Market
  • MLS # : 6839567
  • Updated Date : 02/12/2021 at 19:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,320 sqft
  • Baths : 2 full
Listing Agent's Description

Immaculately maintained home situated in well established Planters Walk community awaits its new owner. This charming 3 bdrm 2 bth has a large inviting front porch that welcomes you. Upon entering this home you are greeted by gleaming hardwoods throughout and new double-hung windows that allows natural light to enter the space. Spacious eat-in kitchen with an open view of the living room and the cozy brick fireplace makes entertaining easy. Stainless steel appliances, granite countertops and ceramic tile. Large master suite with trey ceiling, separate shower,

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: 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
J. A. Alford Elementary School Primary Regular 1,005 73 6
Richards Middle School Middle Regular 1,571 95 5
Discovery High School High Regular NA

J. A. Alford Elementary School

  • Education Level: Primary
  • # of students: 1,005
  • # of teachers: 73
6
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

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$834
Property Tax -$288
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$77

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

$1,370

PROJECTED RENT

0.57%

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$12k

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$14,898

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,109

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2953$1,3704$1,449
$1,449
RENT COMPS ANALYSIS
  • 2504 Morning Glory Lane Nw Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.04
    •  
  • 50 Trudy Court Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1994
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.86
    •  
  • 2467 Planters Cove Drive Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1995
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.79
    •  
  • 2184 Crystal Lake Drive Lawrenceville, GA 4
    • 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
    •  
PROPERTY LISTING DETAILS
Scott Fine Homes
1.404.272.0294
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6839567
Last Updated: 02/12/2021
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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