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730 Alcovy Springs Drive Lawrenceville, GA 30045

5 Beds 3 Baths 2,559 sqft Built 2001

$286,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $111.76
  • 5 Days on Market
  • MLS # : 6846291
  • Updated Date : 02/28/2021 at 08:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,559 sqft
  • Baths : 3 full
Listing Agent's Description

Beautiful Move In Ready home located minutes from Hwy 316. Sitting on a nice and level corner lot this home features 5 bedrooms and 3 full baths , an oversized main suite with sitting area and spacious walk in closet, double vanity with stand up shower and garden tub. Elegant two story foyer, formal living room and formal dinning room . The kitchen is open to the family room and features an eat-in dinning area. Large Private Fenced backyard is a must see

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)
  • #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).
  • #1 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Zip Code: 30045

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k227k

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

Zip Code: 30045

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9731610

* 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
Alcova Elementary School Primary Regular 1,156 76 7
Dacula Middle School Middle Regular 1,617 87 8
Dacula High School High Regular 1,944 100 7

Alcova Elementary School

  • Education Level: Primary
  • # of students: 1,156
  • # of teachers: 76
7
GreatSchools Rating

Dacula Middle School

  • Education Level: Middle
  • # of students: 1,617
  • # of teachers: 87
8
GreatSchools Rating

Dacula High School

  • Education Level: High
  • # of students: 1,944
  • # of teachers: 100
7
GreatSchools Rating
 

$257,400$314,600$286,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$993
Property Tax -$343
Property Insurance -$77
HOA -$17
Property Management Fees -$119
CASH FLOW
$211

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.

$286,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,540

INVESTMENT

$81,540

Down Payment
$71,500
Rehab Estimate
$5,750
Closing Costs
$4,290

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$993

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,500
Loan Amount $214,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$27,673

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,849

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7604$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 730 Alcovy Springs Drive Lawrenceville, GA 3
    • 5 beds 3 baths ∙ 2,559 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,559 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.69
    •  
  • 935 Campbell Gate Road Lawrenceville, GA 1
    • 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 2000
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 1766 Hedington Court Lawrenceville, GA 2
    • 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2006
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.70
    •  
  • 1074 Megan Farms Drive Lawrenceville, GA 4
    • 4 beds 3 baths ∙ 2,499 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,499 Sqft ∙ Built 2003
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.72
    •  
  • 2479 Mitford Court Dacula, GA 5
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2005
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.73
    •  
PROPERTY LISTING DETAILS
Luis Sergio Garza Cuellar
1.404.784.2262
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6846291
Last Updated: 02/28/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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