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2619 Porter Drive Lawrenceville, GA 30044

3 Beds 2 Baths 1,616 sqft Built 1985

INVESTimate

$218,900

List Price

$1,390

$1,251 - $1,529

Rent Est.

$238,098  ( +8.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $135.46
  • 6 Days on Market
  • MLS # : 6768550
  • Updated Date : 08/25/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,616 sqft
  • Baths : 2 full
Listing Agent's Description

Spacious Lawrenceville split-level offers low-maintenance comfort and convenience in Gwinnett's sought-after Heritage Station community! Fresh paint inside & out. Massive master suite. Granite kitchen, large laundry/mudroom; 2-car garage. Durable, stylish LVP floors in common areas, new carpet in bedrooms. Tons of cabinet/countertop/closet space! Wave to the neighbors from rocking-chair covered porch. Enjoy gatherings in huge great room with gas starter fireplace. Private deck overlooks partially fenced, lightly wooded backyard. No HOA! Convenient to 85, 29, shopping.

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: 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
Kanoheda Elementary School Primary Regular 1,072 82 7
Sweetwater Middle School Middle Regular 1,980 117 5
Berkmar High School High Regular 3,439 198 4

Kanoheda Elementary School

  • Education Level: Primary
  • # of students: 1,072
  • # of teachers: 82
7
GreatSchools Rating

Sweetwater Middle School

  • Education Level: Middle
  • # of students: 1,980
  • # of teachers: 117
5
GreatSchools Rating

Berkmar High School

  • Education Level: High
  • # of students: 3,439
  • # of teachers: 198
4
GreatSchools Rating
 

$197,010$240,790$218,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$808
Property Tax -$263
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$142

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.

$218,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.77%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,759

INVESTMENT

$63,759

Down Payment
$54,725
Rehab Estimate
$5,750
Closing Costs
$3,284

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,725
Loan Amount $164,175
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$23,291

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,394

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4503$1,5004$1,5005$1,525
$1,525
RENT COMPS ANALYSIS
  • 2619 Porter Drive Lawrenceville, 1
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.86
    •  
  • 1231 Oak Arbour Avenue Lawrenceville, 2
    • 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1989
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 2972 Weston Brook Lane Duluth, 3
    • 3 beds 3 baths ∙ 1,778 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,778 Sqft ∙ Built 1992
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 1341 Sweet Woods Drive Lawrenceville, 4
    • 3 beds 3 baths ∙ 1,797 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,797 Sqft ∙ Built 1988
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 2803 Loral Pines Drive Lawrenceville, 5
    • 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1994
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jim Martell
1.678.757.4550
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6768550
Last Updated: 08/25/2020
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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