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114 Cessna Drive Canton, GA 30114

3 Beds 3 Baths 1,826 sqft Built 2016

$249,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $136.36
  • 4 Days on Market
  • MLS # : 6833768
  • Updated Date : 01/30/2021 at 09:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,826 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Perfect home ready for new owners. Home features hardwood flooring in foyer, kitchen, & dinette, granite countertops, ss stove, microwave, dishwasher, & pendant lights over breakfast bar. Dinette offers natural light looking out to covered patio & fences yard. Open floor concept w/spacious living room w/cozy fireplace & half bath on main. Wrought iron railing lead to second floor w/laundry room up, large master offers separate tub & shower, double sink vanity & walk-in closet. Secondary bedrooms are spacious & bathroom offers large vanity area for personal items. Home

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (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).
  • 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)
  • #1 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: Norton Lake

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $68k267k

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

Neighborhood: Norton Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500155016001650Rent in $9641681

* 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
Teasley Middle School Middle Regular 1,423 94 6
Cherokee High School High Regular 2,378 135 6

Teasley Middle School

  • Education Level: Middle
  • # of students: 1,423
  • # of teachers: 94
6
GreatSchools Rating

Cherokee High School

  • Education Level: High
  • # of students: 2,378
  • # of teachers: 135
6
GreatSchools Rating
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$865
Property Tax -$254
Property Insurance -$62
HOA -$25
Property Management Fees -$119
CASH FLOW
$265

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.

$249,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.6%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$865

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$33,803

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,630

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,5953$1,6254$1,7505$1,755
$1,755
RENT COMPS ANALYSIS
  • 114 Cessna Drive Canton, GA 1
    • 3 beds 3 baths ∙ 1,826 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,826 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.87
    •  
  • 520 Broughton Drive Canton, GA 2
    • 4 beds 3 baths ∙ 1,890 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,890 Sqft ∙ Built 2014
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
  • 546 Broughton Drive Canton, GA 3
    • 4 beds 3 baths ∙ 1,830 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,830 Sqft ∙ Built 2015
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.89
    •  
  • 174 Diamond Ridge Avenue Canton, GA 4
    • 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 2013
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 518 Broughton Drive Canton, GA 5
    • 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2014
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,755
    • $0.93
    •  
PROPERTY LISTING DETAILS
Erin Romeo
1.770.851.5437
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6833768
Last Updated: 01/30/2021
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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