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2765 Merrimac Court Lawrenceville, GA 30044

4 Beds 2 Baths 1,362 sqft Built 1991

$240,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $176.21
  • 3 Days on Market
  • MLS # : 6848948
  • Updated Date : 03/06/2021 at 14:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,362 sqft
  • Baths : 2 full
Listing Agent's Description

Beautifully updated ranch style home. Conveniently located near schools, shopping, entertainment and highways. Step into the oversized family room to view high ceilings and cozy fireplace. Kitchen features dining area, granite counter tops and SS appliances. Master suite has tiered ceilings with ceiling fan. En suite bathroom has granite counter and oversized step in tub. Secondary bedrooms on main. Large laundry room in hallway. Outside is perfect for entertaining. Patio in back and plenty of front yard space. No HOA fees!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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)

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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$834
Property Tax -$288
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$46

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

$1,340

PROJECTED RENT

0.56%

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

5.17

YEARS SAVED

$12,573

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,208

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,4503$1,4954$1,525
$1,525
RENT COMPS ANALYSIS
  • 2765 Merrimac Court Lawrenceville, GA 1
    • 4 beds 2 baths ∙ 1,362 Sqft ∙ Built 1991 4 beds 2 baths ∙ 1,362 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.98
    •  
  • 1231 Oak Arbour Avenue Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1989
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 997 Walnut Drive Lawrenceville, GA 3
    • 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 1985
    LEASED 02/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
  • 2803 Loral Pines Drive Lawrenceville, GA 4
    • 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1994
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.90
    •  
PROPERTY LISTING DETAILS
Chartese Williams
1.404.573.6470
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6848948
Last Updated: 03/06/2021
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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