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2835 Emerald Springs Drive Lawrenceville, GA 30045

4 Beds 2 Baths 1,872 sqft Built 2004

$248,888

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $132.95
  • 5 Days on Market
  • MLS # : 6802654
  • Updated Date : 11/01/2020 at 12:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,872 sqft
  • Baths : 2 full
Listing Agent's Description

Move-in ready 4 Bedroom, 2 Bath Ranch Home in the Archer School District. Well-maintained by the original owners, includes upgraded hardwood flooring, new carpet in the bedrooms and freshly painted throughout. The two-story Foyer opens to formal Dining Room and the expansive Family Room with stacked stone fireplace. The Kitchen offers stainless-steel appliances, abundant cabinetry and breakfast bar that extends to the eat-in Breakfast Room. Large Master Bedroom with Walk-In Closet, & Master Bathroom with double vanity, separate soaking tub, and shower. Sought after

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: 30045

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k227k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 30045

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9731610

* 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
W. J. Cooper Elementary School Primary Regular 1,174 68 7
Mcconnell Middle School Middle Regular 1,666 93 8
Archer High School High Regular 2,432 121 8

W. J. Cooper Elementary School

  • Education Level: Primary
  • # of students: 1,174
  • # of teachers: 68
7
GreatSchools Rating

Mcconnell Middle School

  • Education Level: Middle
  • # of students: 1,666
  • # of teachers: 93
8
GreatSchools Rating

Archer High School

  • Education Level: High
  • # of students: 2,432
  • # of teachers: 121
8
GreatSchools Rating
 

$223,999$273,777$248,888

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$918
Property Tax -$299
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$201

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.

$248,888

PROJECTED PRICE

$1,600

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.8%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$71,705

INVESTMENT

$71,705

Down Payment
$62,222
Rehab Estimate
$5,750
Closing Costs
$3,733

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$918

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,222
Loan Amount $186,666
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$30,900

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,591

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,5003$1,6004$1,600
$1,600
RENT COMPS ANALYSIS
  • 2835 Emerald Springs Drive Lawrenceville, GA 4
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.85
    •  
  • 3150 Victoria Ridge Court Loganville, GA 1
    • 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 2000
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.90
    •  
  • 2079 Glen Hope Trace Dacula, GA 2
    • 4 beds 3 baths ∙ 1,718 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,718 Sqft ∙ Built 2000
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
  • 2945 Emerald Springs Drive Lawrenceville, GA 3
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 1997
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
PROPERTY LISTING DETAILS
Hunter Kirkman
1.678.773.0088
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6802654
Last Updated: 11/01/2020
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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