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883 Hawthorn Lane Grayson, GA 30017

3 Beds 3 Baths 1,936 sqft Built 2004

$240,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $123.97
  • 13 Days on Market
  • MLS # : 6824262
  • Updated Date : 01/15/2021 at 10:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,936 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Multiple Offers Received! Please submit offers by Sunday 6:00pm. Award winning Grayson High School district! Great 3 Bedroom 2.5 Bath home in an awesome neighborhood. Perfect starter home with swim/tennis and playground. Located close to schools and shopping. Spacious family room with gas fireplace opens to the kitchen and breakfast area. Half bath is on the main floor. All 3 bedrooms and full baths are located upstairs. Hall laundry is up and includes both washer and dryer.

SEE MORE

MARKET HIGHLIGHTS

  • #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).
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Zip Code: 30017

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30017

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
Trip Elementary School Primary Regular 938 58 9
Bay Creek Middle School Middle Regular 1,079 56 7
Grayson High School High Regular 2,767 155 7

Trip Elementary School

  • Education Level: Primary
  • # of students: 938
  • # of teachers: 58
9
GreatSchools Rating

Bay Creek Middle School

  • Education Level: Middle
  • # of students: 1,079
  • # of teachers: 56
7
GreatSchools Rating

Grayson High School

  • Education Level: High
  • # of students: 2,767
  • # of teachers: 155
7
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$834
Property Tax -$251
Property Insurance -$65
HOA -$28
Property Management Fees -$119
CASH FLOW
$214

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.

$240,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.2%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$30,564

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,617

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4753$1,4754$1,5105$1,750
$1,750
RENT COMPS ANALYSIS
  • 883 Hawthorn Lane Grayson, GA 4
    • 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.78
    •  
  • 1280 Summit Point Lane Snellville, GA 1
    • 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1991 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1991
    property image
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 2978 Farmstead Court Grayson, GA 2
    • 3 beds 3 baths ∙ 1,940 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,940 Sqft ∙ Built 2004
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.76
    •  
  • 3129 Fairview Drive Snellville, GA 3
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1986
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.88
    •  
  • 1108 Winding Down Way Grayson, GA 5
    • 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 2003
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
PROPERTY LISTING DETAILS
Pamela Coleman
1.404.771.3904
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6824262
Last Updated: 01/15/2021
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. © 2017 First Multiple Listing Service, Inc.

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