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530 Saddle Shoals Drive Lawrenceville, GA 30046

3 Beds 2 Baths 1,450 sqft Built 1996

$224,900

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $155.10
  • 5 Days on Market
  • MLS # : 6810505
  • Updated Date : 11/21/2020 at 07:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full
Listing Agent's Description

Great ranch home conveniently located less than 2 miles from restaurants, shopping, and fun in downtown Lawrenceville This home features 3 bedrooms, 2 bathrooms, an open concept living room and kitchen with updated tile floor, large laundry room, secondary bathroom with updated vanity and tiled shower, and a master bathroom with double vanities and separate tub and shower. The back yard is fully fenced and offers space for entertaining!

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
Jenkins Elementary School Primary Regular 1,031 64 9
Central Gwinnett High School High Regular 2,748 152 5

Jenkins Elementary School

  • Education Level: Primary
  • # of students: 1,031
  • # of teachers: 64
9
GreatSchools Rating

Central Gwinnett High School

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

$202,410$247,390$224,900

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$830
Property Tax -$237
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$9

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.

$224,900

PROJECTED PRICE

$1,250

PROJECTED RENT

0.56%

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$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$8,893

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,258

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3953$1,4454$1,5005$1,525
$1,525
RENT COMPS ANALYSIS
  • 530 Saddle Shoals Drive Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.86
    •  
  • 416 Spring Head Drive Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 1,593 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,593 Sqft ∙ Built 2002
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.88
    •  
  • 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
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.86
    •  
  • 402 James Ridge Court Lawrenceville, GA 4
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 2001
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 550 Carithers Road Lawrenceville, GA 5
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1980
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.85
    •  
PROPERTY LISTING DETAILS
Kerri Spinks
1.678.205.7671
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6810505
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.

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