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Wholesale Investment Property
All Properties are normally sold within 14 days from the date listed. Please check the status of the unit with us before beginning research on properties older than 14 days.
This property information is Strictly for Real Estate Acquisitions Co. Investors and associates only.
This property is available for purchase only with Cash, Hard Money, or Private Money.
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505 Oak Springs Dr, Lawrenceville, GA 30043
This property can work as a Fix/Flip OR a Rental
FYI: To maximize the rental property to meet the projected cash flow numbers below, you will need to file a variance to register the property as a two-family. The current owner was renting it out as a two-family, but it is currently registered as a single-family.
Fix/Flip
Wholesale Price: $298,700
Rehab Cost: $60,000
After Repair Value: $460,790
Projected Profit: $68,166
Buy and Hold
Potential Yearly Net Cash Flow: $37,412
Cap Rate: 10.02 %
Property Information
Building Type: Single Family Home
Beds: 3
Baths: 2.5
Property SF: 2,139
Real Estate Tax: $1,380
Parking: Carport, Garage
Construction Details:
Roof: Concrete Shingles
Electric: OK
Heating: Forced Air
Plumbing: Copper
Laundry: yes
Sewer: On Site Septic
Water: Well
Zoning: Residential
Projected Financials:
The following pro-forma is based on stabilized property occupancy. Expenses and profits were derived from market research.
Fix and Flip
Investment Type Cost
Wholesale Price $298,700
Rehab Cost $60,000
Estimated closing costs $14,100
Estimated holding costs $6,000
Estimated selling costs (3% of ARV) $13,824
Total Initial Investment: $392,624
Net Profit Calculation
Estimated After Repair Value $460,790
Total Estimated Investment $392,624
Projected Net Profit: $
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Buy and Hold Rental
Comparables from the MLS used to determine ARV
| Address | Price Sold | Sold Date | Size (sf) | Year Built | Price per sf | Distance from subject property (mi) |
| 412 Inwood Trl Lawrenceville GA MLS |
439,000.00 | 5/18/2023 | 1,991 | 2,452 | 13,504 | 0.13 |
| 584 Oak Springs Dr Lawrenceville GA |
241,800.00 | 2/27/2023 | 1,986 | 1,382 | 18,295 | 0.16 |
| 509 Hearth Pl Lawrenceville GA |
320,000.00 | 4/14/2023 | 1,983 | 1,204 | 29,621 | 0.21 |
| 600 Sterling Pointe Ct Lawrenceville GA MLS |
390,000.00 | 6/30/2023 | 2000 | 1,812 | 9,148 | 0.22 |
| 1855 Marsh Creek Dr Lawrenceville GA MLS |
365,000.00 | 6/2/2023 | 1985 | 1,546 | 18,295 | 0.3 |
| 1885 Marsh Creek Dr Lawrenceville GA MLS |
$375,000 | 05/19/2023 | 1986 | 1,646 | 20,473 | 0.35 |