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266 Ridgedale Way Lawrenceville, GA 30044

3 Beds 3 Baths 1,875 sqft Built 1986

$255,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $136.00
  • 6 Days on Market
  • MLS # : 6804190
  • Updated Date : 11/04/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,875 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Move In Ready! Completely renovated! No work needed! Just move in and start living. Welcome to your cozy home with a two-story family room, located in a quiet community. New siding, new windows, newly refinished hardwood floors. The entire home has been freshly-painted and has an open airy feeling. The backyard is leveled and fenced in for great family enjoyment. Great location in the Brookwood School district and close to shopping. NO HOA! No Rental Restrictions.

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
Gwin Oaks Elementary School Primary Regular 1,088 76 8
Five Forks Middle School Middle Regular 1,065 61 9
Brookwood High School High Regular 3,424 172 9

Gwin Oaks Elementary School

  • Education Level: Primary
  • # of students: 1,088
  • # of teachers: 76
8
GreatSchools Rating

Five Forks Middle School

  • Education Level: Middle
  • # of students: 1,065
  • # of teachers: 61
9
GreatSchools Rating

Brookwood High School

  • Education Level: High
  • # of students: 3,424
  • # of teachers: 172
9
GreatSchools Rating
 

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

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$941
Property Tax -$306
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$91

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

$1,520

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$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 45% 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

5.92

YEARS SAVED

$19,903

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,631

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4853$1,4954$1,5205$1,575
$1,575
RENT COMPS ANALYSIS
  • 266 Ridgedale Way Lawrenceville, GA 4
    • 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.81
    •  
  • 27 Kirkhill Drive Lawrenceville, GA 1
    • 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 2002
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 2680 Kentshire Way Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2001
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.88
    •  
  • 2881 Tony Drive Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1972
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
  • 305 Shadetree Lane Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 1997
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.89
    •  
PROPERTY LISTING DETAILS
Daniel Anom
1.404.406.6584
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6804190
Last Updated: 11/04/2020
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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