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805 Lake Medlock Drive Johns Creek, GA 30022

3 Beds 2 Baths 2,319 sqft Built 1997

$439,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $189.31
  • 4 Days on Market
  • MLS # : 6815242
  • Updated Date : 12/04/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,319 sqft
  • Baths : 2 full
Listing Agent's Description

Highly sought after Medlock Bridge neighborhood in Johns Creek. Stunning 3 sides brick ranch featuring 3 bed 2 bath w/ an upstairs bonus room perfect for a 4th bedroom. Hurry this won't last!! Walking distance to Medlock Bridge Elementary & Johns Creek High. Incredible amenities including 12 tennis courts, 2 pools, 2 clubhouses, soccer field, volleyball court, playgrounds, lakes, nature trail and more! Home located near the highly anticipated 200 acre Cauley Creek Park featuring Chattahoochee River kayaking access and the newly constructed pedestrian only Rogers Bridge.

SEE MORE

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 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Medlock Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $113k560k

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

Neighborhood: Medlock Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200Rent in $9733324

* 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
Medlock Bridge Elementary School Primary Regular 670 48 9
Autrey Mill Middle School Middle Regular 1,385 93 9
Johns Creek High School High Regular 2,011 101 9

Medlock Bridge Elementary School

  • Education Level: Primary
  • # of students: 670
  • # of teachers: 48
9
GreatSchools Rating

Autrey Mill Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 93
9
GreatSchools Rating

Johns Creek High School

  • Education Level: High
  • # of students: 2,011
  • # of teachers: 101
9
GreatSchools Rating
 

$395,100$482,900$439,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,620
Property Tax -$400
Property Insurance -$72
HOA -$106
Property Management Fees -$119
CASH FLOW
-$77

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$439,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.18%
Appreciation Year (1-5) 2.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.74%
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-$5.0k$0.0$5.0k$10k$15k$20k

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$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$18,975

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,110

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0003$2,0504$2,1005$2,240
$2,240
RENT COMPS ANALYSIS
  • 805 Lake Medlock Drive Johns Creek, GA 5
    • 3 beds 2 baths ∙ 2,319 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,319 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.97
    •  
  • 6350 Barwick Lane Johns Creek, GA 1
    • 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1994
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.83
    •  
  • 10900 Glenbarr Drive Duluth, GA 2
    • 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1995
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
  • 10725 Glenbarr Drive Johns Creek, GA 3
    • 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1994
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.89
    •  
  • 325 Medridge Drive Johns Creek, GA 4
    • 3 beds 2 baths ∙ 2,139 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,139 Sqft ∙ Built 1993
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
PROPERTY LISTING DETAILS
Charles Geer
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815242
Last Updated: 12/04/2020
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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