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394 Hillridge Drive Lawrenceville, GA 30046

3 Beds 2 Baths 1,376 sqft Built 1987

$249,900

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $181.61
  • 2 Days on Market
  • MLS # : 6834313
  • Updated Date : 01/30/2021 at 09:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,376 sqft
  • Baths : 2 full
Listing Agent's Description

This beautiful 3bed/2bath home is in an established community that is super close to the Lawrenceville Square. This well maintained home has new LVP floors, microwave is 6 months and all other appliances are all 7 years young, including the water heater and also the roof and HVAC. This home also comes with a security system and the backyard has a privacy fence, playhouse and storage shed. The entire interior was just recently painted. The neighborhood has underground utilities and street lights. Come see this home for yourself and make it your own.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (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).
  • 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)
  • #1 World’s Busiest Airport(Airports Council International, 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
Simonton Elementary School Primary Regular 873 62 6
Jordan Middle School Middle Unknown NA
Central Gwinnett High School High Regular 2,748 152 5

Simonton Elementary School

  • Education Level: Primary
  • # of students: 873
  • # of teachers: 62
6
GreatSchools Rating

Jordan Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Central Gwinnett High School

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

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

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$868
Property Tax -$263
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$76

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.

$249,900

PROJECTED PRICE

$1,380

PROJECTED RENT

0.55%

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

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.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$12,345

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,193

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3803$1,3954$1,445
$1,445
RENT COMPS ANALYSIS
  • 394 Hillridge Drive Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.00
    •  
  • 1155 Brook Meadow Court Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1993
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
  • 416 Spring Head Drive Lawrenceville, GA 3
    • 3 beds 3 baths ∙ 1,593 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,593 Sqft ∙ Built 2002
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.88
    •  
  • 417 Pond Lillies Road Lawrenceville, GA 4
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2004
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.86
    •  
PROPERTY LISTING DETAILS
Shannon Spry
1.706.974.8450
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6834313
Last Updated: 01/30/2021
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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