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753 Ives Way Nw Lilburn, GA 30047

3 Beds 3 Baths 1,850 sqft Built 1997

$254,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $137.78
  • 3 Days on Market
  • MLS # : 6815492
  • Updated Date : 12/05/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,850 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful Home in Prime Lilburn location right off Pleasant Hill Rd, near shopping and schools. This home has been well maintained with spacious floor plan and nice private backyard for your enjoyment after long days. Motivated Sellers! Bring All Solid Offers! This one wont last long in this hot market. Tenant currently occupies property, 24 hour notice is required for ALL Showings. Please schedule via ShowingTime. Any further questions, Contact James Pattman @ 6785929050. Face Masks and Booties are required for ALL Showings as we are following COVID-19 Precautions.

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MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30047

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30047

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
Minor Elementary School Primary Regular 1,152 84 4
Berkmar Middle School Middle Regular 1,049 70 8
Berkmar High School High Regular 3,439 198 4

Minor Elementary School

  • Education Level: Primary
  • # of students: 1,152
  • # of teachers: 84
4
GreatSchools Rating

Berkmar Middle School

  • Education Level: Middle
  • # of students: 1,049
  • # of teachers: 70
8
GreatSchools Rating

Berkmar High School

  • Education Level: High
  • # of students: 3,439
  • # of teachers: 198
4
GreatSchools Rating
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$940
Property Tax -$273
Property Insurance -$63
HOA -$35
Property Management Fees -$119
CASH FLOW
-$30

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.

$254,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.0%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,209

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,475

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5454$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 753 Ives Way Nw Lilburn, GA 1
    • 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.76
    •  
  • 3635 Manchester Drive Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 1989
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 3430 Micro Terrace Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1983
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.86
    •  
  • 4580 Bradstone Trace Lilburn, GA 4
    • 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 2003
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.74
    •  
  • 928 Hampton Trail Lilburn, GA 5
    • 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 1983
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.75
    •  
PROPERTY LISTING DETAILS
James Pattman Jr
1.678.592.9050
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815492
Last Updated: 12/05/2020
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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