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1073 Forest Creek Drive Canton, GA 30115

4 Beds 3 Baths 2,782 sqft Built 2002

$337,500

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $121.32
  • 5 Days on Market
  • MLS # : 6802650
  • Updated Date : 11/02/2020 at 08:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,782 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Move-in ready, beautifully designed home in popular swim/tennis neighborhood. Updated kitchen is open to the family room and offers abundant cabinetry and counter space, beamed ceiling, granite counters, and stainless steel appliances. Large family room with stacked stone fireplace has space for everyone. Main level office is perfect for work or school. Separate living room with door offers another space for privacy, essential in 2020. High end LVP flooring in dining and family room. Huge owner’s suite with spacious sitting area makes a tranquil retreat.

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: Forest Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $103k318k

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

Neighborhood: Forest Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732020

* 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
Avery Elementary School Primary Regular 1,052 57 8
Creekland Middle School Middle Regular 1,399 80 7
Creekview High School High Regular 1,828 98 8

Avery Elementary School

  • Education Level: Primary
  • # of students: 1,052
  • # of teachers: 57
8
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
 

$303,750$371,250$337,500

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,245
Property Tax -$275
Property Insurance -$81
HOA -$50
Property Management Fees -$119
CASH FLOW
$320

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.

$337,500

PROJECTED PRICE

$2,090

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,188

INVESTMENT

$95,188

Down Payment
$84,375
Rehab Estimate
$5,750
Closing Costs
$5,063

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,245

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,375
Loan Amount $253,125
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$50,476

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,281

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,090
1$2,0902$2,200
$2,200
RENT COMPS ANALYSIS
  • 1073 Forest Creek Drive Canton, GA 1
    • 4 beds 3 baths ∙ 2,782 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,782 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.75
    •  
  • 141 Pebblebrooke Run Canton, GA 2
    • 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 2004
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
PROPERTY LISTING DETAILS
David Johnson
1.678.910.5705
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6802650
Last Updated: 11/02/2020
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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