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6889 Lakeview Lane Atlanta, GA 30360

5 Beds 3 Baths 2,349 sqft Built 1978

$279,900

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $119.16
  • 7 Days on Market
  • MLS # : 6825702
  • Updated Date : 01/15/2021 at 14:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,349 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Location, Location, Location! Walking distance to shopping center. Minutes to the Forum in Peachtree Corners and Dunwoody. Minutes to I285 and I85. Huge driveway on the house goes to the back of the house. Pool has been professionally closed and is covered for winter. Formal Living Room and Family/Dining Room Combo. Another Family Room with Fireplace. Big Kitchen with eating area. Huge Sunroom with lots of natural light looking over Pool and Deck. Tax records do not reflect the true size of this home. This has a Peachtree Corners Address.

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MARKET HIGHLIGHTS

  • #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).
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$972
Property Tax -$305
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$552

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.

$279,900

PROJECTED PRICE

$2,020

PROJECTED RENT

0.72%

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

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

13.83

YEARS SAVED

$63,397

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,378

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,0203$2,2504$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 6889 Lakeview Lane Atlanta, GA 2
    • 5 beds 3 baths ∙ 2,349 Sqft ∙ Built 1978 5 beds 3 baths ∙ 2,349 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.86
    •  
  • 3700 Geraldine Court Atlanta, GA 1
    • 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1967
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.96
    •  
  • 2842 Fontainebleau Drive Atlanta, GA 3
    • 4 beds 3 baths ∙ 2,154 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,154 Sqft ∙ Built 1968
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.04
    •  
  • 2857 Fontainebleau Drive Dunwoody, GA 4
    • 4 beds 3 baths ∙ 2,525 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,525 Sqft ∙ Built 1968
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
  • 6934 Lockridge Drive Atlanta, GA 5
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 1970
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.06
    •  
PROPERTY LISTING DETAILS
Dioris A Medina
1.404.697.3838
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6825702
Last Updated: 01/15/2021
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. © 2017 First Multiple Listing Service, Inc.

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