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460 Bay Lake Pass Lawrenceville, GA 30046

3 Beds 2 Baths 1,498 sqft Built 1986

$244,500

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $163.22
  • 3 Days on Market
  • MLS # : 6834119
  • Updated Date : 01/30/2021 at 11:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,498 sqft
  • Baths : 2 full
Listing Agent's Description

Beautiful remodeled property in nice area of Lawrenceville. Most of this house has been remodeled including NEW Kitchen (Countertops, Cabinets, Appliances), Bathrooms, Flooring, Paint, Light Fixtures, Windows, Doors, Electrical, and more! This house is on a corner lot and has a good sized fenced backyard for kids to play and for entertaining guests. No HOA and quiet neighborhood!

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
 

$220,050$268,950$244,500

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$849
Property Tax -$257
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
-$12

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.

$244,500

PROJECTED PRICE

$1,270

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,543

INVESTMENT

$70,543

Down Payment
$61,125
Rehab Estimate
$5,750
Closing Costs
$3,668

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,125
Loan Amount $183,375
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$6,527

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,288

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3503$1,4454$1,5255$1,600
$1,600
RENT COMPS ANALYSIS
  • 460 Bay Lake Pass Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.85
    •  
  • 1155 Brook Meadow Court Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1993
    property image
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
  • 417 Pond Lillies Road Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2004
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.86
    •  
  • 550 Carithers Road Lawrenceville, GA 4
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1980
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.85
    •  
  • 520 Carithers Road Lawrenceville, GA 5
    • 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 1980
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
PROPERTY LISTING DETAILS
Eric Kim
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6834119
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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