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463 Briggs Circle Sw Lilburn, GA 30047

3 Beds 3 Baths 1,840 sqft Built 1973

INVESTimate

$244,900

List Price

$1,300

$1,170 - $1,430

Rent Est.

$267,112  ( +9.07%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $133.10
  • 4 Days on Market
  • MLS # : 6771222
  • Updated Date : 08/24/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,840 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

PARKVIEW SCHOOLS! No HOA! Half acre lot, fenced back yard, brand new 16-ton Reed HVAC system installed Aug. 2020, 50 year metal roof, newer windows, floating hardwoods on main level, newly renovated kitchen with tile flooring and tile backsplash, all new appliances with eat in breakfast, separate dining, separate living room, downstairs den with gorgeous stone fireplace with wood burning stove insert (can be removed if buyer chooses) with half bath down. Laundry off downstairs den. Out building and metal carport stay

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
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$904
Property Tax -$262
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$47

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.

$244,900

PROJECTED PRICE

$1,300

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 9.07%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$10,853

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,375

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3003$1,4504$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 463 Briggs Circle Sw Lilburn, 2
    • 3 beds 3 baths ∙ 1,840 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,840 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.71
    •  
  • 5214 Wydella Road Sw Lilburn, 1
    • 3 beds 3 baths ∙ 1,766 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,766 Sqft ∙ Built 1972
    LEASED 04/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.68
    •  
  • 5674 Four Winds Drive Sw Lilburn, 3
    • 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, 4
    • 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
    •  
  • 413 Harmony Grove Road Lilburn, 5
    • 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 1959 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 1959
    LEASED 04/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
PROPERTY LISTING DETAILS
Tina Bennett
1.404.472.5203
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6771222
Last Updated: 08/24/2020
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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