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438 Russell Road Lawrenceville, GA 30043

4 Beds 3 Baths 2,034 sqft Built 1986

$250,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $122.91
  • 3 Days on Market
  • MLS # : 6829717
  • Updated Date : 01/23/2021 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,034 sqft
  • Baths : 3 full
Listing Agent's Description

Beautiful and well maintained home in sought after and award winning Colins Hill High School District. This home offers an open floor plan, 3 full bathrooms that have all been remodeled. Four large bedrooms. Kitchen updated and beautiful hardwood floors throughout the main level. This home has two fireplaces. One located downstairs and one on the main level. Huge back deck, and covered front porch. Backyard is fenced and has plenty of space for family gatherings. Will not last long!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • #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)

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
Taylor Elementary School Primary Regular 927 64 7
Creekland Middle School Middle Regular 2,157 129 6
Collins Hill High School High Regular 3,148 157 8

Taylor Elementary School

  • Education Level: Primary
  • # of students: 927
  • # of teachers: 64
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$868
Property Tax -$300
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$146

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.

$250,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.1%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% 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 $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$23,872

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,622

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,6004$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 438 Russell Road Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 2,034 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,034 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.74
    •  
  • 380 Fountainmist Trail Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1991
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
  • 1564 Heartwood Drive Lawrenceville, GA 3
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1992
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.72
    •  
  • 909 Michael Lee Way Lawrenceville, GA 4
    • 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 1992
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 1558 Collins Hill Road Lawrenceville, GA 5
    • 3 beds 3 baths ∙ 2,191 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,191 Sqft ∙ Built 1980
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.82
    •  
PROPERTY LISTING DETAILS
Greg Sullivan
1.404.918.9779
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6829717
Last Updated: 01/23/2021
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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