Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

480 Leigh Kay Drive Lawrenceville, GA 30046

3 Beds 3 Baths 1,877 sqft Built 1985

$225,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $119.87
  • 3 Days on Market
  • MLS # : 6809549
  • Updated Date : 11/21/2020 at 14:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,877 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Charming two story, traditional home, minutes away from downtown Lawrenceville shopping, dining and entertaining! Large, level front yard and serene front porch for relaxation. Main floor includes a large living room with a fireplace and a study/office space. Upgraded kitchen with granite countertops, stainless-steel appliances and a spacious pantry.

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)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 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: 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
Margaret Winn Holt Elementary School Primary Regular 1,172 81 5
Moore Middle School Middle Regular 1,011 63 6
Central Gwinnett High School High Regular 2,748 152 5

Margaret Winn Holt Elementary School

  • Education Level: Primary
  • # of students: 1,172
  • # of teachers: 81
5
GreatSchools Rating

Moore Middle School

  • Education Level: Middle
  • # of students: 1,011
  • # of teachers: 63
6
GreatSchools Rating

Central Gwinnett High School

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

$202,500$247,500$225,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$830
Property Tax -$237
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$161

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.

$225,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.63%

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$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$21,227

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,572

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4103$1,4504$1,4805$1,695
$1,695
RENT COMPS ANALYSIS
  • 480 Leigh Kay Drive Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 1,877 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,877 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.75
    •  
  • 195 King Arthur Drive Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1972
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.74
    •  
  • 965 Dogwood Park Drive Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1996
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 945 Clairidge Lane Lawrenceville, GA 4
    • 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 2002
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.86
    •  
  • 669 Clairidge Elm Trail Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 1,899 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,899 Sqft ∙ Built 2003
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
PROPERTY LISTING DETAILS
Sanela Becirhodzic
1.678.907.2799
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6809549
Last Updated: 11/21/2020
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.

BESbswy