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104 Old Hickory Point Mcdonough, GA 30252

4 Beds 3 Baths 2,158 sqft Built 1996

INVESTimate

$240,000

List Price

$1,740

$1,566 - $1,914

Rent Est.

$253,752  ( +5.73%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $111.21
  • 1 Days on Market
  • MLS # : 6772225
  • Updated Date : 08/25/2020 at 19:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,158 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This property is HOT! And looks great! Prepare to be swept up in emotions as you walk into this amazing home. There is an abundance of charm at a great price. Open floor-plan, large eat in kitchen with brand new granite counters, plenty of cabinet space and new stainless steel appliances. New paint, carpet and fixtures throughout the home. Beautiful hardwood floors on the main level and in the master. Three other spacious bedrooms round out the top floor. Deck for entertaining overlooks the large level backyard. Also, don't miss the freshly painted garage!

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: Crown Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $111k321k

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

Neighborhood: Crown Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9702009

* 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
Ola Elementary School Primary Regular 869 57 7
Ola Middle School Middle Regular 1,160 67 8
Ola High School High Regular 1,560 91 8

Ola Elementary School

  • Education Level: Primary
  • # of students: 869
  • # of teachers: 57
7
GreatSchools Rating

Ola Middle School

  • Education Level: Middle
  • # of students: 1,160
  • # of teachers: 67
8
GreatSchools Rating

Ola High School

  • Education Level: High
  • # of students: 1,560
  • # of teachers: 91
8
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$886
Property Tax -$277
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$390

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.

$240,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.73%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

12.58

YEARS SAVED

$55,925

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,784

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,7053$1,7404$1,795
$1,795
RENT COMPS ANALYSIS
  • 104 Old Hickory Point Mcdonough, 3
    • 4 beds 3 baths ∙ 2,158 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,158 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.81
    •  
  • 61 Ridgewood Court Mcdonough, 1
    • 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 1993
    property image
    LEASED 03/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.71
    •  
  • 264 Rainbow Lane Mcdonough, 2
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2006
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,705
    • $0.93
    •  
  • 718 Hot Springs Trail Mcdonough, 4
    • 4 beds 4 baths ∙ 2,130 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,130 Sqft ∙ Built 2015
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jeffrey Johnson
1.678.940.6655
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6772225
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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