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813 Lakeshore Drive Berkeley Lake, GA 30096

4 Beds 3 Baths 2,906 sqft Built 1973

$499,900

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $172.02
  • 109 Days on Market
  • MLS # : 6762299
  • Updated Date : 11/20/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,906 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Total renovation with open floor plan and chef's kitchen! Seasonal lake-view. All new hardwood floors. Quartz countertops, SS appliances, pot filler, double oven and huge island, bedroom on main. Huge Master with Spa en-suite with large walk-in shower and body sprayers. Basement w/ studio/office and media/playroom. Fenced backyard with boat gate, double patio and area perfect for fire pit. Minutes from Peachtree Corners Town Center and Forum. Maintenance free for years to come since all is NEW with totally updated finishes. Enjoy the 88 acres of Berkeley lake

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Neighborhood: Berkeley Lake

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k482k

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

Neighborhood: Berkeley Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9732542

* 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
Berkeley Lake Elementary School Primary Regular 1,148 73 7
Duluth Middle School Middle Regular 2,039 117 7
Duluth High School High Regular 2,675 142 7

Berkeley Lake Elementary School

  • Education Level: Primary
  • # of students: 1,148
  • # of teachers: 73
7
GreatSchools Rating

Duluth Middle School

  • Education Level: Middle
  • # of students: 2,039
  • # of teachers: 117
7
GreatSchools Rating

Duluth High School

  • Education Level: High
  • # of students: 2,675
  • # of teachers: 142
7
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,844
Property Tax -$509
Property Insurance -$83
HOA -$23
Property Management Fees -$119
CASH FLOW
-$89

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.

$499,900

PROJECTED PRICE

$2,490

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.1%
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$1.2M$1.4M$1.6M

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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$22,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,209

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$2,4903$2,500
$2,500
RENT COMPS ANALYSIS
  • 813 Lakeshore Drive Berkeley Lake, GA 2
    • 4 beds 3 baths ∙ 2,906 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,906 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.86
    •  
  • 3955 Bimini Cove Duluth, GA 1
    • 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 1991
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.64
    •  
  • 5330 Twillingate Place Duluth, GA 3
    • 4 beds 3 baths ∙ 2,840 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,840 Sqft ∙ Built 1993
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.88
    •  
PROPERTY LISTING DETAILS
Joseph Cassar
1.678.823.7677
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6762299
Last Updated: 11/20/2020
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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