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332 Lauren Drive Fairburn, GA 30213

3 Beds 3 Baths 1,784 sqft Built 2016

$215,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $120.52
  • 4 Days on Market
  • MLS # : 6827419
  • Updated Date : 01/22/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,784 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

WOW!  You won't want to miss this one.  This newly painted beautiful 3 bedroom 2 and a half bath home offers that open concept floor plan that you've been looking for.  Inside you'll find new interior paint, granite countertops and stainless appliances in this meticulously maintained home.  Upstairs you'll find two bedrooms and a dreamy owner's retreat complete with a newly remodeled master bath with a beautiful marble countertop and porcelain tiles and a oversized walk in closet.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Zip Code: 30213

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30213

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171521

* 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
Oakley Elementary School Primary Regular 816 53 2
Bear Creek Middle School Middle Regular 962 71 4
Creekside High School High Regular 1,635 86 4

Oakley Elementary School

  • Education Level: Primary
  • # of students: 816
  • # of teachers: 53
2
GreatSchools Rating

Bear Creek Middle School

  • Education Level: Middle
  • # of students: 962
  • # of teachers: 71
4
GreatSchools Rating

Creekside High School

  • Education Level: High
  • # of students: 1,635
  • # of teachers: 86
4
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$747
Property Tax -$170
Property Insurance -$62
HOA -$50
Property Management Fees -$119
CASH FLOW
$443

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$215,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

13

YEARS SAVED

$45,295

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,623

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4303$1,5504$1,5755$1,590
$1,590
RENT COMPS ANALYSIS
  • 332 Lauren Drive Fairburn, GA 5
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.89
    •  
  • 7046 Preserve Parkway Fairburn, GA 1
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 2001
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 3080 Broadleaf Trail Fairburn, GA 2
    • 4 beds 4 baths ∙ 1,588 Sqft ∙ Built 2006 4 beds 4 baths ∙ 1,588 Sqft ∙ Built 2006
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.90
    •  
  • 710 Signature Trace Palmetto, GA 3
    • 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 2001
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 2020 Shortleaf Road Fairburn, GA 4
    • 4 beds 3 baths ∙ 1,773 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,773 Sqft ∙ Built 2016
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jennifer Hoffman
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6827419
Last Updated: 01/22/2021
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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