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345 Scenic Highway Lawrenceville, GA 30046

3 Beds 2 Baths 1,236 sqft Built 1971

$285,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $230.58
  • 11 Days on Market
  • MLS # : 6819498
  • Updated Date : 12/25/2020 at 19:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,236 sqft
  • Baths : 2 full
Listing Agent's Description

Amazing Investment Opportunity or a Primary Residence with ADDITIONAL LOT! Welcome to this 3 bed / 2 bath ranch situated close to major roads, shopping, schools and Downtown City of Lawrenceville! Property sits on a 0.54 lot and is sold as a pakage with additional lot of 0.89 acre. This is a total of 1.43 acre of land! Addt'l parcel is 355 Scenic Hwy. Possibility of Commercial re-zoning but not mixed use. Verified with City of Lawrenceville. Home is currently rented to long term renter. DO NOT DISTURB TENANT. Shown BY APPOINTMENT only. Inquire today! Investor owned.

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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: 30046

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $82k227k

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

Zip Code: 30046

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8171552

* 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
Margaret Winn Holt Elementary School Primary Regular 1,172 81 5
Moore Middle School Middle Regular 1,011 63 6
Central Gwinnett High School High Regular 2,748 152 5

Margaret Winn Holt Elementary School

  • Education Level: Primary
  • # of students: 1,172
  • # of teachers: 81
5
GreatSchools Rating

Moore Middle School

  • Education Level: Middle
  • # of students: 1,011
  • # of teachers: 63
6
GreatSchools Rating

Central Gwinnett High School

  • Education Level: High
  • # of students: 2,748
  • # of teachers: 152
5
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,052
Property Tax -$300
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$51

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.

$285,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.3%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$7,474

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,057

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,2253$1,470
$1,470
RENT COMPS ANALYSIS
  • 345 Scenic Highway Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.19
    •  
  • 437 Lockridge Lane Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1965
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.86
    •  
  • 259 Mediterranean Lane Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1976
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.85
    •  
PROPERTY LISTING DETAILS
Marzena Trawinski
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6819498
Last Updated: 12/25/2020
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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