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278 Omega Drive Lawrenceville, GA 30044

4 Beds 3 Baths 2,624 sqft Built 1982

$255,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $97.18
  • 5 Days on Market
  • MLS # : 6824862
  • Updated Date : 01/07/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,624 sqft
  • Baths : 3 full
Listing Agent's Description

Location is Everything! Awesome home with rocking chair front porch and massive deck. Spacious 4bd 3ba with new windows, fresh interior paint, and new hand scraped strand woven wood floors throughout entire house. Incredible Great Room with stained wood wainscoting and stone fireplace. Main level also has multiple options for dining room/office set up in addition to formal living room. Nice yard and great space for entertaining!!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 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
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

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$886
Property Tax -$306
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
$382

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

$1,770

PROJECTED RENT

0.69%

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$5.0k$10k$15k$20k

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 25% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$45,388

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,752

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,515
1$1,5152$1,6503$1,6954$1,7005$1,770
$1,770
RENT COMPS ANALYSIS
  • 278 Omega Drive Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.67
    •  
  • 185 Jackson Point Drive Lawrenceville, GA 1
    • 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2001
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,515
    • $0.66
    •  
  • 2780 School Side Way Lawrenceville, GA 2
    • 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2000
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.68
    •  
  • 775 Wyndham Place Circle Lawrenceville, GA 3
    • 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 1992
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.65
    •  
  • 3165 Paces Landing Drive Lawrenceville, GA 4
    • 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1998
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.68
    •  
PROPERTY LISTING DETAILS
Lynn Jones Ll
1.443.370.1202
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6824862
Last Updated: 01/07/2021
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. © 2017 First Multiple Listing Service, Inc.

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