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560 Canterbury Lane Lawrenceville, GA 30046

3 Beds 2 Baths 1,924 sqft Built 1990

$170,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $88.36
  • 3 Days on Market
  • MLS # : 6849481
  • Updated Date : 03/06/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,924 sqft
  • Baths : 2 full
Listing Agent's Description

CALLING ALL INVESTORS OR ANYONE READY TO MAKE THIS HOME THEIR OWN! ROOF & TRANE HVAC 3 YEARS OLD. NEW FRONT AND BACK DECK. NEEDS UPDATING, PAINT, ETC. FENCED IN BACKYARD. CORNER LOT. MINUTES FROM DOWNTOWN LAWRENCEVILLE. SELLER IS REVIEWING ALL OFFERS ON MONDAY EVENING! SELLER PREFERS THAT DUE DILIGENCE BE PERFORMED BEFORE MAKING AN OFFER. PRICE REFLECTS CONDITION. HOME IS NOT VACANT. SCHEDULE THROUGH SHOWINGTIME FOR EASY CONFIRMATION- AGENT DOES NOT HAVE ANYMORE PICTURES.

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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)

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
 

$153,000$187,000$170,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$590
Property Tax -$197
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$460

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.

$170,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.84%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

14.75

YEARS SAVED

$41,953

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,462

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,4993$1,5254$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 560 Canterbury Lane Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.74
    •  
  • 520 Allens Landing Court Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 1993
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.79
    •  
  • 560 Pond Weed Drive Lawrenceville, GA 3
    • 3 beds 3 baths ∙ 1,994 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,994 Sqft ∙ Built 2004
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.76
    •  
  • 955 Waldwick Drive Lawrenceville, GA 4
    • 4 beds 3 baths ∙ 2,234 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,234 Sqft ∙ Built 2000
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.72
    •  
  • 660 Castlebrooke Drive Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,081 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,081 Sqft ∙ Built 2002
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
PROPERTY LISTING DETAILS
April Bagwell
1.706.988.8310
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6849481
Last Updated: 03/06/2021
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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