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1001 Smithwyck Drive Canton, GA 30115

3 Beds 2 Baths 1,757 sqft Built 1998

$299,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $170.69
  • 3 Days on Market
  • MLS # : 6829981
  • Updated Date : 01/23/2021 at 17:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,757 sqft
  • Baths : 2 full
Listing Agent's Description

Immaculate Ranch home in Macedonia/Creekland/Creekview School district! This 3 Br/2 Ba home is nestled on a beautiful, level, corner lot with beautifully manicured front and back yards! The interior boasts fresh paint and beautiful flooring. Enjoy cozy evenings by the ventless gas fireplace with push button start & gas logs! The kitchen offers custom cabinets, granite, and newer stainless appliances. Separate dining room opens to the oversized covered back deck. The Master suite is huge- w/sitting area, large walk-in closet, and beautiful bath! This home will not last!

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Neighborhood: Smithwyck

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Smithwyck

NeighborhoodNIR 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
Macedonia Elementary School Primary Regular 784 44 9
Creekland Middle School Middle Regular 1,399 80 7
Creekview High School High Regular 1,828 98 8

Macedonia Elementary School

  • Education Level: Primary
  • # of students: 784
  • # of teachers: 44
9
GreatSchools Rating

Creekland Middle School

  • Education Level: Middle
  • # of students: 1,399
  • # of teachers: 80
7
GreatSchools Rating

Creekview High School

  • Education Level: High
  • # of students: 1,828
  • # of teachers: 98
8
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,042
Property Tax -$245
Property Insurance -$61
HOA -$42
Property Management Fees -$119
CASH FLOW
$222

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.

$299,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.0%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$35,048

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,933

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,800
$1,800
RENT COMPS ANALYSIS
  • 1001 Smithwyck Drive Canton, GA 1
    • 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.98
    •  
  • 190 Northwoods Circle Ball Ground, GA 2
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1986
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.10
    •  
PROPERTY LISTING DETAILS
Maria Sims Group
1.404.805.0673
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6829981
Last Updated: 01/23/2021
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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