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6709 Lockridge Drive Atlanta, GA 30360

3 Beds 3 Baths 2,968 sqft Built 1968

$425,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $143.19
  • 5 Days on Market
  • MLS # : 6817454
  • Updated Date : 12/10/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,968 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This beautiful ranch is ready to become your new home. Sit on the front porch and enjoy the lake view across the street. Ready to relax? Enjoy the private spa with hot tub. The extra space in the garage and storage shed has tons of space for storage and parking for your bikes or collector's items. Don't let the size fool you, this home is bigger than it looks. An extra room is located off the great room that could easily be used for guests, office, or game room. This home has it all; just needs your designer touches. This is an estate sale. Sold "As-Is"!!

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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

Neighborhood: Peachtree Corners

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k326k

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

Neighborhood: Peachtree Corners

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $9733087

* 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
Peachtree Elementary School Primary Regular 1,829 108 7
Pinckneyville Middle School Middle Regular 1,306 81 6
Norcross High School High Regular 3,738 204 5

Peachtree Elementary School

  • Education Level: Primary
  • # of students: 1,829
  • # of teachers: 108
7
GreatSchools Rating

Pinckneyville Middle School

  • Education Level: Middle
  • # of students: 1,306
  • # of teachers: 81
6
GreatSchools Rating

Norcross High School

  • Education Level: High
  • # of students: 3,738
  • # of teachers: 204
5
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,568
Property Tax -$375
Property Insurance -$84
Property Management Fees -$119
CASH FLOW
$194

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.

$425,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.7%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$45,574

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,899

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,340
1$2,3402$2,4003$2,6504$2,900
$2,900
RENT COMPS ANALYSIS
  • 6709 Lockridge Drive Atlanta, GA 1
    • 3 beds 3 baths ∙ 2,968 Sqft ∙ Built 1968 3 beds 3 baths ∙ 2,968 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.79
    •  
  • 2587 W Fontainebleau Court W Dunwoody, GA 2
    • 4 beds 3 baths ∙ 2,718 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,718 Sqft ∙ Built 1969
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.88
    •  
  • 2623 Wood Hollow Drive Dunwoody, GA 3
    • 4 beds 4 baths ∙ 2,708 Sqft ∙ Built 1968 4 beds 4 baths ∙ 2,708 Sqft ∙ Built 1968
    property image
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.98
    •  
  • 4664 Brunning Court Dunwoody, GA 4
    • 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 1973 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 1973
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.07
    •  
PROPERTY LISTING DETAILS
Quincy Hollinquest
1.404.858.5105
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6817454
Last Updated: 12/10/2020
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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