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890 Mill Station Drive Lawrenceville, GA 30046

3 Beds 2 Baths 1,449 sqft Built 1992

$230,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $158.73
  • 3 Days on Market
  • MLS # : 6815548
  • Updated Date : 12/05/2020 at 10:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,449 sqft
  • Baths : 2 full
Listing Agent's Description

Beautiful corner lot ranch style home. Fresh paint, new windows, new HVAC, new water heater, roof is only 10 years old with 30-year architecture shingles. Vaulted family room with fireplace. Dining room is ready for the next family gathering. Kitchen has newly painted white cabinets, pantry and eat-in area. Laundry room located off kitchen. Master bedroom with trey ceiling and walk-in closet. Two additional bedrooms. Covered patio overlooking fenced backyard. NO HOA. Conveniently located close to shopping, restaurants, hospital.

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 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: 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
Margaret Winn Holt Elementary School Primary Regular 1,172 81 5
Moore Middle School Middle Regular 1,011 63 6
Central Gwinnett High School High Regular 2,748 152 5

Margaret Winn Holt Elementary School

  • Education Level: Primary
  • # of students: 1,172
  • # of teachers: 81
5
GreatSchools Rating

Moore Middle School

  • Education Level: Middle
  • # of students: 1,011
  • # of teachers: 63
6
GreatSchools Rating

Central Gwinnett High School

  • Education Level: High
  • # of students: 2,748
  • # of teachers: 152
5
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$849
Property Tax -$276
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$59

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.

$230,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.54%

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,688

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,246

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,2403$1,4504$1,4805$1,500
$1,500
RENT COMPS ANALYSIS
  • 890 Mill Station Drive Lawrenceville, GA 2
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.86
    •  
  • 259 Mediterranean Lane Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1976
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.85
    •  
  • 965 Dogwood Park Drive Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1996
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 945 Clairidge Lane Lawrenceville, GA 4
    • 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 2002
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.86
    •  
  • 1214 Stella Court Lawrenceville, GA 5
    • 3 beds 3 baths ∙ 1,732 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,732 Sqft ∙ Built 2007
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Cheryl Farley
1.678.925.7684
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815548
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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