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858 Parc River Boulevard Lawrenceville, GA 30046

3 Beds 3 Baths 1,693 sqft Built 2002

$250,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $147.67
  • 6 Days on Market
  • MLS # : 6804294
  • Updated Date : 11/05/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,693 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

**BUY THIS HOME WITH $7,000 DOWN & $1,000 PER MONTH** GORGEOUS 3 BEDROOMS, 2.5 BATHS HOME, WELL KEPT, ONE OWNER. ENGINEERED FLOORING ON MAIN LEVEL, NEW GRANITE KITCHEN COUNTER, NEW BACK SPLASH, BREAKFAST BAR, MASTER ON MAIN, SUN ROOM THAT OPENS TO A LEVEL FENCED BACKYARD, EXCELLENT COMMUNITY, CONVENIENTLY LOCATED NEAR HWY 316. THE QUIET NEIGHBORHOOD IS PERFECT FOR KIDS!

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MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30046

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $82k227k

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

Zip Code: 30046

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8171552

* 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
Benefield Elementary School Primary Regular 1,339 93 7
Richards Middle School Middle Regular 1,571 95 5
Discovery High School High Regular NA

Benefield Elementary School

  • Education Level: Primary
  • # of students: 1,339
  • # of teachers: 93
7
GreatSchools Rating

Richards Middle School

  • Education Level: Middle
  • # of students: 1,571
  • # of teachers: 95
5
GreatSchools Rating

Discovery High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$922
Property Tax -$300
Property Insurance -$60
HOA -$101
Property Management Fees -$119
CASH FLOW
-$112

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
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

PROJECTED ANNUAL CASH FLOW

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

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,171

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,388

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,3953$1,4954$1,4955$1,525
$1,525
RENT COMPS ANALYSIS
  • 858 Parc River Boulevard Lawrenceville, GA 1
    • 3 beds 3 baths ∙ 1,693 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,693 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.82
    •  
  • 1885 Grouse Court Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1990
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.83
    •  
  • 4694 Windale Drive Lawrenceville, GA 3
    • 3 beds 3 baths ∙ 1,923 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,923 Sqft ∙ Built 2005
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.78
    •  
  • 988 Dallas Way Lawrenceville, GA 4
    • 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 1985
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 1421 Charing Cross Way Lawrenceville, GA 5
    • 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1998
    LEASED 07/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.83
    •  
PROPERTY LISTING DETAILS
The Nadal Team
1.770.291.2194
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6804294
Last Updated: 11/05/2020
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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