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707 Craig Drive Lawrenceville, GA 30046

3 Beds 2 Baths 1,696 sqft Built 1971

$222,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1971
  • Price/Sqft : $130.90
  • 12 Days on Market
  • MLS # : 6799857
  • Updated Date : 10/29/2020 at 10:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,696 sqft
  • Baths : 2 full
Listing Agent's Description

Looking for a ranch style home with a nice size lot? Then you have come to the right place. This home has a great size front and back yard. Large size garage allows you to have plenty of space for storage with a partial basement for additional storage. Inside of the home needs updating. Roof is 5yrs. old and the AC/water heater are 3yrs. old. Would make a great investment property. Home is being sold AS-IS!

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 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
Lawrenceville Elementary School Primary Regular 759 59 3
Moore Middle School Middle Regular 1,011 63 6
Central Gwinnett High School High Regular 2,748 152 5

Lawrenceville Elementary School

  • Education Level: Primary
  • # of students: 759
  • # of teachers: 59
3
GreatSchools Rating

Moore Middle School

  • Education Level: Middle
  • # of students: 1,011
  • # of teachers: 63
6
GreatSchools Rating

Central Gwinnett High School

  • Education Level: High
  • # of students: 2,748
  • # of teachers: 152
5
GreatSchools Rating
 

$199,800$244,200$222,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$819
Property Tax -$234
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$28

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.

$222,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,580

INVESTMENT

$64,580

Down Payment
$55,500
Rehab Estimate
$5,750
Closing Costs
$3,330

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$819

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,500
Loan Amount $166,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$10,117

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,255

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,260
1$1,2602$1,2953$1,3954$1,450
$1,450
RENT COMPS ANALYSIS
  • 707 Craig Drive Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.74
    •  
  • 910 Lawrenceville Highway Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1964
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.70
    •  
  • 195 King Arthur Drive Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1972
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.74
    •  
  • 380 Fountainmist Trail Lawrenceville, GA 4
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1991
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
PROPERTY LISTING DETAILS
Sanders Team
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6799857
Last Updated: 10/29/2020
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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