Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3401 Rae Place Lawrenceville, GA 30044

3 Beds 3 Baths 1,440 sqft Built 1980

$249,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $173.54
  • 6 Days on Market
  • MLS # : 6802056
  • Updated Date : 10/30/2020 at 00:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,440 sqft
  • Baths : 3 full
Listing Agent's Description

Incredible opportunity to become a part of this amazing community! Recently renovated, 4 sided brick ranch home nestled on a 1/2 acre corner lot in the highly coveted Brookwood school cluster! Don't miss your chance to view this stunning home that has recently undergone some major upgrades! New interior and exterior paint, all new LVP flooring throughout the entire home (no carpet anywhere), brand new gutters, all bathrooms have been upgraded and roof is less than 3 years old!

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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$922
Property Tax -$300
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$44

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.

$249,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.58%

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

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$15,670

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,224

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4403$1,4954$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 3401 Rae Place Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.00
    •  
  • 431 Princeton Way Lawrenceville, GA 1
    • 4 beds 2 baths ∙ 1,655 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,655 Sqft ∙ Built 1977
    LEASED 07/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 588 Michael Court Lawrenceville, GA 3
    • 4 beds 2 baths ∙ 1,732 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,732 Sqft ∙ Built 1976
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
  • 2881 Tony Drive Lawrenceville, GA 4
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1972
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
  • 3635 Manchester Drive Lawrenceville, GA 5
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 1989
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Elizabeth Serrano
1.404.915.2701
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6802056
Last Updated: 10/30/2020
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.

BESbswy