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890 Turner Drive Lawrenceville, GA 30046

3 Beds 2 Baths 2,000 sqft Built 1987

$270,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $135.00
  • 7 Days on Market
  • MLS # : 6820864
  • Updated Date : 12/22/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,000 sqft
  • Baths : 2 full
Listing Agent's Description

Dream Home! One Owner! Inviting and bright remodeled Cape Cod home in quiet neighborhood! Chair front porch! 2 Car Garage! New paint inside/out- greys. New windows! Whitewashed brick fireplace! New high end vinyl & tile flooring! Open Concept Kitchen remodeled w touchless Faucet, White Cabinets, Samsung Gas Range, & LG Dishwasher! Granite look Solid Surface Counter tops in Kitchen and Baths! Master on Main! Bath has new walk in Luxury Tile Shower! Large Sunroom! Vinyl flooring upstairs!

SEE MORE

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
Simonton Elementary School Primary Regular 873 62 6
Central Gwinnett High School High Regular 2,748 152 5

Simonton Elementary School

  • Education Level: Primary
  • # of students: 873
  • # of teachers: 62
6
GreatSchools Rating

Central Gwinnett High School

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

$243,000$297,000$270,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$996
Property Tax -$284
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$75

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.

$270,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.57%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$15,374

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,635

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,5003$1,5404$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 890 Turner Drive Lawrenceville, GA 3
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.77
    •  
  • 520 Allens Landing Court Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 1993
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.79
    •  
  • 1135 Briarwood Cove Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 1989
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.77
    •  
  • 535 Madison Chase Drive Lawrenceville, GA 4
    • 4 beds 3 baths ∙ 1,856 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,856 Sqft ∙ Built 1999
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 1070 Rafington Drive Lawrenceville, GA 5
    • 4 beds 2 baths ∙ 1,948 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,948 Sqft ∙ Built 1997
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.85
    •  
PROPERTY LISTING DETAILS
Teresa Johnson
1.404.861.2788
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820864
Last Updated: 12/22/2020
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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