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658 Burnt Creek Drive Nw Lilburn, GA 30047

3 Beds 1 Baths 1,003 sqft Built 1982

$175,000

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $174.48
  • 4 Days on Market
  • MLS # : 6817428
  • Updated Date : 12/12/2020 at 20:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,003 sqft
  • Baths : 1 full
Listing Agent's Description

Are you looking for a low maintenance ranch in the perfect location? This is the one! This home would be perfect for a first time home buyer, investment property or someone looking to downsize. Features an open concept, breakfast bar, laminate flooring in family room & bedrooms, ceiling fans in all bedrooms, new paint, 6 months old HVAC system, storage unit in back and more storage on side of house, covered back porch, fenced-in yard and renovated bathroom. Super close to highways, I-85, stores, restaurants and schools.

SEE MORE

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
Minor Elementary School Primary Regular 1,152 84 4
Berkmar Middle School Middle Regular 1,049 70 8
Berkmar High School High Regular 3,439 198 4

Minor Elementary School

  • Education Level: Primary
  • # of students: 1,152
  • # of teachers: 84
4
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
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$646
Property Tax -$187
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
$212

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.

$175,000

PROJECTED PRICE

$1,210

PROJECTED RENT

0.69%

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$100k$200k$300k$400k$500k$600k$700k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

10.83

YEARS SAVED

$33,151

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,277

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,210
1$1,2102$1,4953$1,5004$1,500
$1,500
RENT COMPS ANALYSIS
  • 658 Burnt Creek Drive Nw Lilburn, GA 1
    • 3 beds 1 baths ∙ 1,003 Sqft ∙ Built 1982 3 beds 1 baths ∙ 1,003 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $1.21
    •  
  • 3454 N Creekview Drive Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1963
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.15
    •  
  • 3316 Timbercreek Drive Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,112 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,112 Sqft ∙ Built 1980
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.35
    •  
  • 3328 Timbercreek Drive Lawrenceville, GA 4
    • 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1980
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.32
    •  
PROPERTY LISTING DETAILS
Karen Lickay
1.770.776.6033
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6817428
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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