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371 Fountainmist Trail Lawrenceville, GA 30043

4 Beds 3 Baths 2,433 sqft Built 1996

INVESTimate

$260,000

List Price

$1,600

$1,440 - $1,760

Rent Est.

$281,138  ( +8.13%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $106.86
  • 3 Days on Market
  • MLS # : 6771291
  • Updated Date : 08/25/2020 at 09:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,433 sqft
  • Baths : 3 full
Listing Agent's Description

This is the one you've been waiting for! This spacious, move-in ready home features fresh paint and flooring. The open floorplan is ideal for comfortable living, and the extra living room in the basement provides the perfect space for the kids to play. The deck overlooks a private fenced-in backyard, which opens up to even more backyard space beyond the gate. Close to 316 and I-85, Downtown Lawrenceville, shops and restaurants at the Mall of Georgia, Northside Gwinnett Hospital, Georgia Gwinnett College and Gwinnett Tech.

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: 30043

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30043

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Mckendree Elementary School Primary Regular 1,098 72 7
Creekland Middle School Middle Regular 2,157 129 6
Collins Hill High School High Regular 3,148 157 8

Mckendree Elementary School

  • Education Level: Primary
  • # of students: 1,098
  • # of teachers: 72
7
GreatSchools Rating

Creekland Middle School

  • Education Level: Middle
  • # of students: 2,157
  • # of teachers: 129
6
GreatSchools Rating

Collins Hill High School

  • Education Level: High
  • # of students: 3,148
  • # of teachers: 157
8
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$959
Property Tax -$312
Property Insurance -$74
HOA -$31
Property Management Fees -$119
CASH FLOW
$104

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.

$260,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.13%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$23,878

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
  • $0.66

    LIST RENT PER SQFT
  • $1,758

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6653$1,6954$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 371 Fountainmist Trail Lawrenceville, 1
    • 3 beds 2 baths ∙ 2,433 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,433 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.66
    •  
  • 1464 Claredon Drive Lawrenceville, 2
    • 4 beds 3 baths ∙ 2,496 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,496 Sqft ∙ Built 1995
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.67
    •  
  • 1095 Chandler Park Court Lawrenceville, 3
    • 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1994
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.69
    •  
  • 575 Station View Run Lawrenceville, 4
    • 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1992
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.72
    •  
  • 1118 Webb Forrest Trail Lawrenceville, 5
    • 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 1996
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
PROPERTY LISTING DETAILS
Tiffany Merritt
1.678.907.0677
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6771291
Last Updated: 08/25/2020
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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