Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1135 Morgan Road Canton, GA 30115

4 Beds 3 Baths 1,628 sqft Built 1992

INVESTimate

$254,900

List Price

$1,460

$1,314 - $1,606

Rent Est.

$270,245  ( +6.02%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1992
  • Price/Sqft : $156.57
  • 9 Days on Market
  • MLS # : 6770221
  • Updated Date : 08/24/2020 at 09:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,628 sqft
  • Baths : 3 full
Listing Agent's Description

NEW PICTURES! Beautiful home on corner of cul-de-sac with large fenced back yard.Beautiful wood floors throughout and wonderful kitchen with stainless appliances, upgraded granite counters, and easy access to deck to enjoy nature and quite backyard. Great flow into the large family room that is open and full of light, Great space for family time. Master on main floor with nice sized walk in closet in the en suite. 2 large Bedrooms on main with separate full bath plus a 4th bedroom or media space in basement with full bath. HVAC less than year old, under warranty.

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 Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k321k

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

Neighborhood: The Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8832009

* 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
Holly Springs Elementary School Stem Academy Primary Regular 962 54 6
Dean Rusk Middle School Middle Regular 901 50 7
Sequoyah High School High Regular 1,715 93 8

Holly Springs Elementary School Stem Academy

  • Education Level: Primary
  • # of students: 962
  • # of teachers: 54
6
GreatSchools Rating

Dean Rusk Middle School

  • Education Level: Middle
  • # of students: 901
  • # of teachers: 50
7
GreatSchools Rating

Sequoyah High School

  • Education Level: High
  • # of students: 1,715
  • # of teachers: 93
8
GreatSchools Rating
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,314$1,606$1,460

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$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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 $1,460
EXPENSES Loan Payment -$940
Property Tax -$208
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$134

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.

$254,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.02%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$29,427

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,604

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,5653$1,5954$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 1135 Morgan Road Canton, 1
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.90
    •  
  • 517 Charles Drive Canton, 2
    • 4 beds 3 baths ∙ 1,825 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,825 Sqft ∙ Built 2000
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.86
    •  
  • 1955 Doefield Street Canton, 3
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1986
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 206 Magnolia Springs Drive Canton, 4
    • 4 beds 3 baths ∙ 1,634 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,634 Sqft ∙ Built 1996
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 223 Sterling Drive Canton, 5
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1993
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.02
    •  
PROPERTY LISTING DETAILS
Steven Cagle
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770221
Last Updated: 08/24/2020
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.

BESbswy