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998 Falconcrest Drive Lawrenceville, GA 30043

3 Beds 2 Baths 1,650 sqft Built 1984

$259,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $157.52
  • 8 Days on Market
  • MLS # : 6834566
  • Updated Date : 02/01/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full
Listing Agent's Description

LOCATION, LOCATION, LOCATION**CLOSE TO EVERYTHING**QUICK ACCESS TO 85**MOVE IN READY 3BED 2BATH RANCH HOME**PEACHTREE RIDGE HIGH**LEVEL LOT**WELL MAINTAINED**NEW ROOF**NEW PAINT**NEW DOORS**UPDATED MASTER BATHROOM**HARD WOOD FLOORS THROUGHOUT**A LOTS OF RECESS LIGHTS ON CEILINGS**FRONT PORCH**LEVEL FENCED BACKYARD**HUGH ENJOYABLE WOODEN DECK**OUT BUILDING**

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MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30043

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30043

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
Jackson Elementary School Primary Regular 1,673 102 7
Northbrook Middle School Middle Regular 1,001 56 NA
Peachtree Ridge High School High Regular 3,211 163 8

Jackson Elementary School

  • Education Level: Primary
  • # of students: 1,673
  • # of teachers: 102
7
GreatSchools Rating

Northbrook Middle School

  • Education Level: Middle
  • # of students: 1,001
  • # of teachers: 56
NA
GreatSchools Rating

Peachtree Ridge High School

  • Education Level: High
  • # of students: 3,211
  • # of teachers: 163
8
GreatSchools Rating
 

$233,910$285,890$259,900

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 -$903
Property Tax -$312
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$2

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.

$259,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.1%
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

PROJECTED ANNUAL CASH FLOW

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

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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$11,892

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
  • $0.84

    LIST RENT PER SQFT
  • $1,423

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4503$1,5504$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 998 Falconcrest Drive Lawrenceville, GA 1
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.84
    •  
  • 1011 Forest Park Lane Suwanee, GA 2
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1985
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 427 Lee Miller Drive Suwanee, GA 3
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1999
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 2271 Stag Run Suwanee, GA 4
    • 4 beds 4 baths ∙ 1,994 Sqft ∙ Built 1984 4 beds 4 baths ∙ 1,994 Sqft ∙ Built 1984
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 2161 Ashley Crossing Court Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1998
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
PROPERTY LISTING DETAILS
Amy Kim
1.404.384.8668
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6834566
Last Updated: 02/01/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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