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3223 River Oak Place Lawrenceville, GA 30044

3 Beds 2 Baths 1,525 sqft Built 1975

$223,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1975
  • Price/Sqft : $146.23
  • 4 Days on Market
  • MLS # : 6805197
  • Updated Date : 11/07/2020 at 16:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,525 sqft
  • Baths : 2 full
Listing Agent's Description

Brookwood District, Cozy home with fireplace to hang your stockings. Screened in porch over looks fenced grassy backyard. Separate deck for grilling. Formal living room and dining room. Up a few steps to three bedrooms and two baths. Home is located on a cul-de-sac in quiet neighborhood. HOA is voluntary! Enjoy Swimming pool in the neighborhood is optional with association. Easy access to Five Forks.

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
 

$200,700$245,300$223,000

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 -$823
Property Tax -$267
Property Insurance -$57
HOA -$42
Property Management Fees -$119
CASH FLOW
$32

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.

$223,000

PROJECTED PRICE

$1,340

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,845

INVESTMENT

$64,845

Down Payment
$55,750
Rehab Estimate
$5,750
Closing Costs
$3,345

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$823

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,750
Loan Amount $167,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$12,614

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
  • $0.88

    LIST RENT PER SQFT
  • $1,281

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,4003$1,4004$1,4955$1,495
$1,495
RENT COMPS ANALYSIS
  • 3223 River Oak Place Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.88
    •  
  • 431 Princeton Way Lawrenceville, GA 2
    • 4 beds 2 baths ∙ 1,655 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,655 Sqft ∙ Built 1977
    property image
    LEASED 07/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 646 Westbrook Place Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1976
    property image
    LEASED 08/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.80
    •  
  • 588 Michael Court Lawrenceville, GA 4
    • 4 beds 2 baths ∙ 1,732 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,732 Sqft ∙ Built 1976
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
  • 2881 Tony Drive Lawrenceville, GA 5
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1972
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
PROPERTY LISTING DETAILS
Shelley L Trampnau
1.404.376.1948
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805197
Last Updated: 11/07/2020
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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