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1093 Mcconaughy Court Mcdonough, GA 30253

3 Beds 2 Baths 1,704 sqft Built 2008

$189,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $110.92
  • 1 Days on Market
  • MLS # : 6831804
  • Updated Date : 01/23/2021 at 22:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,704 sqft
  • Baths : 2 full
Listing Agent's Description

Gorgeous fully renovated 3 bedroom, 2.5 Bathroom Townhome in Charleston Village !! This beautiful home offers an open concept Kitchen area with brand new appliances, lots of natural light everywhere. Upstairs has 3 Bedrooms and 2 full baths. Master suite comes with its own private balcony and spacious master bathroom w both tub and shower and elegant double vanity. Community has clubhouse, picnic area, minutes to I-75, close to shopping centers, parks and everything. Amazing Location and a wonderful home !!

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: Charleston Villages

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $71k209k

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

Neighborhood: Charleston Villages

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Oakland Elementary School Primary Regular 766 49 3
Henry County Middle School Middle Regular 789 49 3
Henry County High School High Regular 1,031 116 3

Oakland Elementary School

  • Education Level: Primary
  • # of students: 766
  • # of teachers: 49
3
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
 

$170,100$207,900$189,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$656
Property Tax -$226
Property Insurance -$60
HOA -$100
Property Management Fees -$119
CASH FLOW
$199

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.

$189,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,835

INVESTMENT

$55,835

Down Payment
$47,250
Rehab Estimate
$5,750
Closing Costs
$2,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$656

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,250
Loan Amount $141,750
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$18,113

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,393

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,245
1$1,2452$1,3453$1,3604$1,4555$1,499
$1,499
RENT COMPS ANALYSIS
  • 1093 Mcconaughy Court Mcdonough, GA 3
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.80
    •  
  • 5075 Tussahaw Crossing Mcdonough, GA 1
    • 3 beds 3 baths ∙ 1,473 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,473 Sqft ∙ Built 2001
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.85
    •  
  • 1740 New Orleans Way Mcdonough, GA 2
    • 3 beds 3 baths ∙ 1,558 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,558 Sqft ∙ Built 2002
    property image
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.86
    •  
  • 5550 Yellow Pine Drive Mcdonough, GA 4
    • 4 beds 3 baths ∙ 1,882 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,882 Sqft ∙ Built 2002
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,455
    • $0.77
    •  
  • 710 Galveston Way Mcdonough, GA 5
    • 4 beds 3 baths ∙ 1,890 Sqft ∙ Built 2018 4 beds 3 baths ∙ 1,890 Sqft ∙ Built 2018
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.79
    •  
PROPERTY LISTING DETAILS
Steven Krasner
1.347.372.0918
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831804
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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