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103 Whiddon Drive Mcdonough, GA 30253

4 Beds 3 Baths 2,650 sqft Built 1996

INVESTimate

$229,900

List Price

$1,600

$1,440 - $1,760

Rent Est.

$244,821  ( +6.49%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $86.75
  • 7 Days on Market
  • MLS # : 6770009
  • Updated Date : 08/25/2020 at 10:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,650 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful home w/open concept, large leveled fenced in back yard on great block street. Great location close to interstate, shops, restaurants this house sits in the heart of Henry County. Recent renovations include Kitchen w/quartz countertops, Master Bath, new flooring and new HVAC unit. Home also includes Smart features such as Ring door bell, Smart thermostat and bluetooth deadbolt on the back door. Close to 2700 sq ft of living space boasts a cozy Master Bedroom suite that includes a sitting room & all secondary Bedrooms have comfortable space. Association

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

Neighborhood: The Moorings of Wesley Lakes

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: The Moorings of Wesley Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8171561

* 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
Wesley Lakes Elementary School Primary Regular 530 34 4
Henry County Middle School Middle Regular 789 49 3
Henry County High School High Regular 1,031 116 3

Wesley Lakes Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 34
4
GreatSchools Rating

Henry County Middle School

  • Education Level: Middle
  • # of students: 789
  • # of teachers: 49
3
GreatSchools Rating

Henry County High School

  • Education Level: High
  • # of students: 1,031
  • # of teachers: 116
3
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

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$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$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$848
Property Tax -$280
Property Insurance -$78
HOA -$35
Property Management Fees -$119
CASH FLOW
$240

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.

$229,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.49%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$28,024

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $1,740

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,585
1$1,5852$1,6003$1,6504$1,680
$1,680
RENT COMPS ANALYSIS
  • 103 Whiddon Drive Mcdonough, 2
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.60
    •  
  • 1045 Ivey Lane Mcdonough, 1
    • 5 beds 3 baths ∙ 2,517 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,517 Sqft ∙ Built 2004
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.63
    •  
  • 1932 Stanton Way Mcdonough, 3
    • 5 beds 3 baths ∙ 2,476 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,476 Sqft ∙ Built 2016
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.67
    •  
  • 605 Compton Lane Mcdonough, 4
    • 4 beds 3 baths ∙ 2,497 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,497 Sqft ∙ Built 2001
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.67
    •  
PROPERTY LISTING DETAILS
Yolanda Felton
1.470.426.3823
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770009
Last Updated: 08/25/2020
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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