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5275 Harbins Point Lane Nw Lilburn, GA 30047

4 Beds 3 Baths 2,063 sqft Built 1994

$265,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $128.45
  • 3 Days on Market
  • MLS # : 6815482
  • Updated Date : 12/05/2020 at 20:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,063 sqft
  • Baths : 3 full
Listing Agent's Description

Sought after neighborhood close to churches and schools finally has a home for sale! Lots of sq footage, no HOA - no restrictions for Rental, Business Operation, Structures on the property, parking work vehicles, etc. Tenant Occupied, so 24 hour notice required for showings. Call or Text agent. Home needs some TLC. Seller flexible to repair/update. Split Foyer floorplan w full bath, bedroom, Additional Living Room w/ Fireplace, backyard access, and garage access on lower level. Don't miss storage room/workshop on back of garage.

SEE MORE

MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30047

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 30047

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
Lilburn Elementary School Primary Regular 1,597 109 6
Lilburn Middle School Middle Regular 1,790 102 5
Meadowcreek High School High Regular 3,548 172 3

Lilburn Elementary School

  • Education Level: Primary
  • # of students: 1,597
  • # of teachers: 109
6
GreatSchools Rating

Lilburn Middle School

  • Education Level: Middle
  • # of students: 1,790
  • # of teachers: 102
5
GreatSchools Rating

Meadowcreek High School

  • Education Level: High
  • # of students: 3,548
  • # of teachers: 172
3
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$978
Property Tax -$283
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$103

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.

$265,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.0%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$25,408

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,661

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,6004$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 5275 Harbins Point Lane Nw Lilburn, GA 2
    • 4 beds 3 baths ∙ 2,063 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,063 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.75
    •  
  • 703 Pebble Creek Trail Norcross, GA 1
    • 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1977
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 1395 Turners Ridge Drive Norcross, GA 3
    • 5 beds 3 baths ∙ 2,138 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,138 Sqft ∙ Built 1995
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.75
    •  
  • 1020 Indian Way Nw Lilburn, GA 4
    • 4 beds 3 baths ∙ 2,082 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,082 Sqft ∙ Built 1986
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 770 Cloverwood Court Nw Lilburn, GA 5
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 1996
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
PROPERTY LISTING DETAILS
Alicia H Cooper
1.404.518.6980
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815482
Last Updated: 12/05/2020
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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