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639 First Street Lawrenceville, GA 30046

5 Beds 3 Baths 2,826 sqft Built 1998

$345,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $122.08
  • 2 Days on Market
  • MLS # : 6855618
  • Updated Date : 03/20/2021 at 21:11
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,826 sqft
  • Baths : 3 full
Listing Agent's Description

Get ready for Spring and Summer. Beautiful back yard with fruit trees and garden spot. Well maintained split level with plenty of room in a no HOA community. Wonderful open living room, upgraded appliances in kitchen which has breakfast area and opens onto a screen porch. Three large bedrooms upstairs with 2 full baths. Laundry room on main floor. Downstairs is mother-in-law suite or perfect for teens. Open living spaces, two bedrooms and a full bath. There is an area plumbed for kitchen. From basement open onto a lower deck area to extend to outdoor living

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: 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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,198
Property Tax -$363
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
$18

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.

$345,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.52%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,801

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,915

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7353$1,7804$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 639 First Street Lawrenceville, GA 3
    • 5 beds 3 baths ∙ 2,826 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,826 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.63
    •  
  • 599 First Street Lawrenceville, GA 1
    • 4 beds 3 baths ∙ 2,541 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,541 Sqft ∙ Built 1997
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
  • 1280 Chandler Ridge Drive Lawrenceville, GA 2
    • 4 beds 3 baths ∙ 2,603 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,603 Sqft ∙ Built 2003
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.67
    •  
  • 170 Adams Lake Court Lawrenceville, GA 4
    • 4 beds 4 baths ∙ 2,741 Sqft ∙ Built 2001 4 beds 4 baths ∙ 2,741 Sqft ∙ Built 2001
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.66
    •  
  • 1112 Simonton Glen Way Lawrenceville, GA 5
    • 5 beds 3 baths ∙ 2,622 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,622 Sqft ∙ Built 2006
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
PROPERTY LISTING DETAILS
Dianna Mcwhorter
1.770.298.0757
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6855618
Last Updated: 03/20/2021
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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