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1039 Bridgemill Avenue Canton, GA 30114

3 Beds 3 Baths 1,641 sqft Built 1999

$330,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $201.10
  • 7 Days on Market
  • MLS # : 6856551
  • Updated Date : 03/21/2021 at 02:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,641 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome to your very own Cozy Cottage in Bridge Mill. Great location; Imagine sitting on your charming front porch & visiting with your neighbors or sitting in your backyard court yard relaxing. Inside, find fresh neutral paint in today's colors. Delightful sunroom with patio & backyard access. Master with walk-in closet + ensuite with. Resort Quality Amenities! Close to Lake Allatoona + shopping & dining nearby. Don't Miss Out on this GREAT OPPORTUNITY in the sought after BridgeMill Subdivision in Cherokee County.

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Neighborhood: Bridgemill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k362k

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

Neighborhood: Bridgemill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9732178

* 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
Sixes Elementary School Primary Regular 792 45 8
Freedom Middle School Middle Regular 1,119 65 9
Woodstock High School High Regular 2,179 111 8

Sixes Elementary School

  • Education Level: Primary
  • # of students: 792
  • # of teachers: 45
8
GreatSchools Rating

Freedom Middle School

  • Education Level: Middle
  • # of students: 1,119
  • # of teachers: 65
9
GreatSchools Rating

Woodstock High School

  • Education Level: High
  • # of students: 2,179
  • # of teachers: 111
8
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,146
Property Tax -$269
Property Insurance -$59
HOA -$14
Property Management Fees -$119
CASH FLOW
$13

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.

$330,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.1%
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$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$17,798

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,646

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5254$1,620
$1,620
RENT COMPS ANALYSIS
  • 1039 Bridgemill Avenue Canton, GA 4
    • 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.99
    •  
  • 2052 Greenhill Pass Canton, GA 1
    • 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 2000
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.00
    •  
  • 3079 Heatherbrook Trace Canton, GA 2
    • 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 2001
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 2068 Greenhill Pass Canton, GA 3
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 2000
    property image
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.02
    •  
PROPERTY LISTING DETAILS
Lynn Taylor
1.770.331.0668
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6856551
Last Updated: 03/21/2021
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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