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650 Collingsworth Lane Ne Lawrenceville, GA 30043

4 Beds 4 Baths 2,780 sqft Built 2016

$339,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $121.94
  • 3 Days on Market
  • MLS # : 6853671
  • Updated Date : 03/20/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,780 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Beautiful 4 bedroom, 3.5 bath with full unfinished basement. Formal living room and dining room, gourmet kitchen with granite island, granite countertops, overlooking breakfast area and great room with fireplace. Top floor also includes a spacious primary suite with a sitting area, bath with dual vanities and separate tub and shower. Additional 3 bedrooms upstairs, where 2nd bedroom is a junior suite with private bathroom. Private fenced in backyard overlooks serene wooded view. Quiet swim and tennis community with easy access to hwy 316, I-85, shopping, and dining.

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: 30043

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30043

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
Dyer Elementary School Primary Regular 750 51 9
Twin Rivers Middle School Middle Regular 1,570 85 9
Mountain View High School High Regular 2,103 100 7

Dyer Elementary School

  • Education Level: Primary
  • # of students: 750
  • # of teachers: 51
9
GreatSchools Rating

Twin Rivers Middle School

  • Education Level: Middle
  • # of students: 1,570
  • # of teachers: 85
9
GreatSchools Rating

Mountain View High School

  • Education Level: High
  • # of students: 2,103
  • # of teachers: 100
7
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,177
Property Tax -$407
Property Insurance -$81
HOA -$42
Property Management Fees -$119
CASH FLOW
$44

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.

$339,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.1%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$18,259

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,029

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8703$1,9004$1,9005$2,100
$2,100
RENT COMPS ANALYSIS
  • 650 Collingsworth Lane Ne Lawrenceville, GA 2
    • 4 beds 4 baths ∙ 2,780 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,780 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.67
    •  
  • 297 Collingsworth Trace Lawrenceville, GA 1
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2012
    property image
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.66
    •  
  • 726 Retreat Woods Way Dacula, GA 3
    • 3 beds 3 baths ∙ 2,640 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,640 Sqft ∙ Built 2015
    property image
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
  • 296 Collingsworth Trace Lawrenceville, GA 4
    • 4 beds 3 baths ∙ 2,541 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,541 Sqft ∙ Built 2012
    property image
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.75
    •  
  • 1132 Gather Drive Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2005
    property image
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
PROPERTY LISTING DETAILS
Josh Pitre
1.404.955.0227
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6853671
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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