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720 Paris Drive Lawrenceville, GA 30043

4 Beds 3 Baths 2,442 sqft Built 1989

$299,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $122.44
  • 3 Days on Market
  • MLS # : 6813311
  • Updated Date : 11/28/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,442 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

WOW! So many upgrades! Brand new kitchen with granite counters, tile backsplash and ALL new stainless appliances! All new insulated windows throughout! All new flooring on main, all new carpet upstairs! SMOOTH ceilings on entire main level! New fireplace in family room overlooks new deck! Huge master bedroom with vaulted ceiling and sitting area leads into brand new master bath with all new flooring, double sink, new glass shower, and walk in closet! Entire home is freshly painted with neutral colors, including 3 guest rooms upstairs. Completely move in ready! New

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Rock Springs Elementary School Primary Regular 839 62 7
Creekland Middle School Middle Regular 2,157 129 6
Collins Hill High School High Regular 3,148 157 8

Rock Springs Elementary School

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 62
7
GreatSchools Rating

Creekland Middle School

  • Education Level: Middle
  • # of students: 2,157
  • # of teachers: 129
6
GreatSchools Rating

Collins Hill High School

  • Education Level: High
  • # of students: 3,148
  • # of teachers: 157
8
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,103
Property Tax -$359
Property Insurance -$74
HOA -$46
Property Management Fees -$119
CASH FLOW
$99

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.

$299,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.60%

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

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$25,329

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,886

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8004$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 720 Paris Drive Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
  • 280 Brynfield Parkway Suwanee, GA 1
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2006
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 2498 Brynfield Cove Suwanee, GA 2
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2007
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.80
    •  
  • 2488 Brynfield Cove Suwanee, GA 3
    • 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2006
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
  • 2609 Falcon Nest Court Suwanee, GA 4
    • 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1989
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
PROPERTY LISTING DETAILS
Cindy Powell
1.678.618.3013
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6813311
Last Updated: 11/28/2020
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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