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628 Falling Leaf Drive Lilburn, GA 30047

3 Beds 2 Baths 1,922 sqft Built 1978

$245,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $127.47
  • 3 Days on Market
  • MLS # : 6818386
  • Updated Date : 12/12/2020 at 14:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,922 sqft
  • Baths : 2 full
Listing Agent's Description

Berkmar High School District. Spacious 3 bedroom, 2 bath ranch on partial basement. 3 rooms in basement are sheetrocked. Also has stub for a bath. Plenty of room to grow! Very bright and open sunken family room with vaulted ceiling and fireplace. Separate formal dining. Enjoy the peaceful private setting from the sunroom. Large deck overlooks large private fenced yard. Bosch Washer Dryer and SS Refrigerator remain. Seller will also be leaving 2 bedroom suits and flat screen TV. Estate Sale. Home being Sold In As Is Condition. No HOA. No Disclosure.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Hopkins Elementary School Primary Regular 1,980 138 5
Berkmar Middle School Middle Regular 1,049 70 8
Berkmar High School High Regular 3,439 198 4

Hopkins Elementary School

  • Education Level: Primary
  • # of students: 1,980
  • # of teachers: 138
5
GreatSchools Rating

Berkmar Middle School

  • Education Level: Middle
  • # of students: 1,049
  • # of teachers: 70
8
GreatSchools Rating

Berkmar High School

  • Education Level: High
  • # of students: 3,439
  • # of teachers: 198
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$904
Property Tax -$262
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$91

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

$1,440

PROJECTED RENT

0.59%

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

PROJECTED ANNUAL CASH FLOW

11530$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

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

6.67

YEARS SAVED

$22,961

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,461

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4403$1,4504$1,6005$1,666
$1,666
RENT COMPS ANALYSIS
  • 628 Falling Leaf Drive Lilburn, GA 2
    • 3 beds 2 baths ∙ 1,922 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,922 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.75
    •  
  • 560 Lilburn School Road Nw Lilburn, GA 1
    • 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 1994
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.82
    •  
  • 645 Sterling Oaks Drive Lilburn, GA 3
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 1996
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.73
    •  
  • 928 Hampton Trail Lilburn, GA 4
    • 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 1983
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.75
    •  
  • 4018 Landress Way Lawrenceville, GA 5
    • 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 1982
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,666
    • $0.74
    •  
PROPERTY LISTING DETAILS
Cheryl G Brock
1.404.374.8719
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6818386
Last Updated: 12/12/2020
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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