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379 Alva Lane Sw Lilburn, GA 30047

3 Beds 2 Baths 2,043 sqft Built 1979

$265,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1979
  • Price/Sqft : $129.71
  • 10 Days on Market
  • MLS # : 6798054
  • Updated Date : 10/26/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,043 sqft
  • Baths : 2 full
Listing Agent's Description

Nicely maintained home in quiet cul-de-sac. Large kitchen on main level has custom cabinets with pantry, solid surface cooktop, wall oven, plenty of counter space and breakfast room with bay window. Family room with masonry fireplace, cathedral ceiling with skylights. Separate living room and dining room on main level. Master bedroom features walk-in closet and master bath with separate vanity area and large shower. 2 more bedrooms up and 2nd full bath. Large 2 car garage with access to full, unfinished basement. Deck overlooks private backyard.

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

Neighborhood: Mountain Park

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Mountain Park

NeighborhoodNIR 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
Arcado Elementary School Primary Regular 1,190 76 7
Trickum Middle School Middle Regular 1,987 108 8
Parkview High School High Regular 2,834 152 8

Arcado Elementary School

  • Education Level: Primary
  • # of students: 1,190
  • # of teachers: 76
7
GreatSchools Rating

Trickum Middle School

  • Education Level: Middle
  • # of students: 1,987
  • # of teachers: 108
8
GreatSchools Rating

Parkview High School

  • Education Level: High
  • # of students: 2,834
  • # of teachers: 152
8
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$978
Property Tax -$283
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$153

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.

$265,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$30,670

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
  • $0.78

    LIST RENT PER SQFT
  • $1,609

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6003$1,6004$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 379 Alva Lane Sw Lilburn, GA 3
    • 3 beds 2 baths ∙ 2,043 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,043 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
  • 5674 Four Winds Drive Sw Lilburn, GA 1
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1972
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.79
    •  
  • 522 Cascade Drive Lilburn, GA 2
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1977
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.76
    •  
  • 196 Northwind Court Sw Lilburn, GA 4
    • 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 1974
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 537 Rollingwood Drive Stone Mountain, GA 5
    • 3 beds 2 baths ∙ 2,323 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,323 Sqft ∙ Built 1973
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.73
    •  
PROPERTY LISTING DETAILS
Kathy M Peters
1.770.377.8269
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6798054
Last Updated: 10/26/2020
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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