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615 Alcovy Woods Drive Lawrenceville, GA 30045

4 Beds 3 Baths 2,202 sqft Built 1998

$260,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $118.07
  • 7 Days on Market
  • MLS # : 6837464
  • Updated Date : 02/19/2021 at 14:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,202 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Hurry this one won't last. Well maintained one owner home in very convenient location. Close to 316 and Sugarloaf Parkway. Located in small neighborhood & NO HOA! A beautiful level .5 acre lot. Backyard is very private and wooded. Some H/W flrs on main level. W/W carpet is only 6 months old & beautiful! Main lvl has Formal LR & DR family rm with FP, brkfst room, & a laundry rm off kitchen. Kitchen is open to family rm and brkfst room. Main level laundry room includes a BRAND NEW WASHER & DRYER! ALL APPLIANCES ARE INCLUDED! (not garage freezer). MOVE IN READY!

SEE MORE

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: 30045

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k227k

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

Zip Code: 30045

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9731610

* 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
Alcova Elementary School Primary Regular 1,156 76 7
Dacula Middle School Middle Regular 1,617 87 8
Dacula High School High Regular 1,944 100 7

Alcova Elementary School

  • Education Level: Primary
  • # of students: 1,156
  • # of teachers: 76
7
GreatSchools Rating

Dacula Middle School

  • Education Level: Middle
  • # of students: 1,617
  • # of teachers: 87
8
GreatSchools Rating

Dacula High School

  • Education Level: High
  • # of students: 1,944
  • # of teachers: 100
7
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$903
Property Tax -$312
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$186

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.

$260,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$24,847

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,674

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6003$1,6504$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 615 Alcovy Woods Drive Lawrenceville, GA 1
    • 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.72
    •  
  • 1600 Lily Valley Drive Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2005
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 935 Campbell Gate Road Lawrenceville, GA 3
    • 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 2000
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 2479 Mitford Court Dacula, GA 4
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2005
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.73
    •  
  • 1427 Balvaird Drive Lawrenceville, GA 5
    • 4 beds 4 baths ∙ 2,337 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,337 Sqft ∙ Built 2017
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
PROPERTY LISTING DETAILS
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837464
Last Updated: 02/19/2021
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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