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2618 Kings Way Lawrenceville, GA 30044

4 Beds 3 Baths 2,108 sqft Built 1970

$255,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $120.97
  • 4 Days on Market
  • MLS # : 6815441
  • Updated Date : 12/04/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,108 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Yes it is Ready! Totally and Freshly Renovated This 4 sided brick 4-Bedrooms, 2.5-Baths with no carpet! All new Hardwoods floors! New Bathrooms with Granite Counter Tops, New kitchen Granite counter tops, New Stainless Steel Appliances, Large Side entry 2 car Garage. Featuring, Large Living Room, Separate Dining Room & Family Room with Masonry fireplace and Screened-in rear porch just off the family room. Beautiful wood floors in generously sized bedrooms! A Master bedroom with full bath. All set on almost 1/2Acre Private Level Lot! Hurry Don't let this one get away!!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$941
Property Tax -$306
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$266

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.

$255,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.67%

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$39,294

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,713

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,465
1$1,4652$1,6003$1,6504$1,6755$1,700
$1,700
RENT COMPS ANALYSIS
  • 2618 Kings Way Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 188 Prince Anthony Drive Lawrenceville, GA 1
    • 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
    •  
  • 374 Seneca Drive Lawrenceville, GA 2
    • 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 1987
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 2870 Creekwood Lane Lawrenceville, GA 3
    • 5 beds 3 baths ∙ 2,000 Sqft ∙ Built 1986 5 beds 3 baths ∙ 2,000 Sqft ∙ Built 1986
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 611 Paden Mill Trail Lawrenceville, GA 4
    • 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 1986
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.87
    •  
PROPERTY LISTING DETAILS
Sammy Torres
1.770.652.1822
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815441
Last Updated: 12/04/2020
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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