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2588 Kings Way Lawrenceville, GA 30044

3 Beds 2 Baths 2,048 sqft Built 1971

$249,900

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $122.02
  • 4 Days on Market
  • MLS # : 6839565
  • Updated Date : 02/12/2021 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,048 sqft
  • Baths : 2 full
Listing Agent's Description

Check out the 3D TOUR! This Newly updated home is equipped with brand new finishes; Exterior paint, deck, interior paint, flooring, cabinets, quartz countertops, lighting. The open floor plan encompasses three spacious bedrooms with plenty of room for study, sleep, storage, and a sleek kitchen. Cozy up to the beautiful brick fireplace in the living room. The spacious backyard and deck are perfect for entertaining visitors! Come take a look!! You get a feeling of coming home as you enter the front door.

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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$868
Property Tax -$300
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$257

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.

$249,900

PROJECTED PRICE

$1,610

PROJECTED RENT

0.64%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$32,375

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,608

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3993$1,4654$1,6005$1,610
$1,610
RENT COMPS ANALYSIS
  • 2588 Kings Way Lawrenceville, GA 5
    • 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 1971 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.79
    •  
  • 139 Tuscany Circle Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1976
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.73
    •  
  • 199 Kings Court Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1971
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.80
    •  
  • 188 Prince Anthony Drive Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1971
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,465
    • $0.79
    •  
  • 2214 Crystal Lake Drive Lawrenceville, GA 4
    • 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 1987
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
PROPERTY LISTING DETAILS
Zareh Najarian
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6839565
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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