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604 Shannon Way Lawrenceville, GA 30044

3 Beds 2 Baths 1,734 sqft Built 1972

INVESTimate

$245,000

List Price

$1,460

$1,314 - $1,606

Rent Est.

$266,487  ( +8.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $141.29
  • 7 Days on Market
  • MLS # : 6769383
  • Updated Date : 08/21/2020 at 10:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,734 sqft
  • Baths : 2 full
Listing Agent's Description

Come take a look at this 'almost new' home in Lawrenceville. It has everything you need- Open Floor Plan, Recessed Lighting, and much more! This renovated 4-sided brick home is built to last! NEW everything! Brand new windows, fresh exterior paint, new gutters, and all new concrete siding! Newer Roof (3 yrs), HVAC (1 yr), and Hardwood flooring (2 yrs). Completely move in ready, solid built home. Backyard is an absolute must! Great private lot, fenced in, with HUGE potential for your own private garden or fun weekend gatherings. This one won't last long!

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

Zip Code: 30044

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k227k

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

Zip Code: 30044

ZipNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9481552

* 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
Baggett Elementary School Primary Regular NA
Richards Middle School Middle Regular 1,571 95 5
Discovery High School High Regular NA

Baggett Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Richards Middle School

  • Education Level: Middle
  • # of students: 1,571
  • # of teachers: 95
5
GreatSchools Rating

Discovery High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$904
Property Tax -$294
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$83

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.

$245,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.77%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% 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 $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$18,659

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,483

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,449
1$1,4492$1,4603$1,4954$1,5305$1,650
$1,650
RENT COMPS ANALYSIS
  • 604 Shannon Way Lawrenceville, 2
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.84
    •  
  • 2184 Crystal Lake Drive Lawrenceville, 1
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1987
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.87
    •  
  • 997 Walnut Drive Lawrenceville, 3
    • 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 1985
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
  • 865 Regency Court Lawrenceville, 4
    • 4 beds 3 baths ∙ 1,880 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,880 Sqft ∙ Built 1972
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.81
    •  
  • 505 Seneca Drive Lawrenceville, 5
    • 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 1988
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
PROPERTY LISTING DETAILS
Elizabeth Gomez
1.954.683.4134
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6769383
Last Updated: 08/21/2020
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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