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1182 Cool Springs Drive Nw Kennesaw, GA 30144

4 Beds 3 Baths 2,626 sqft Built 1997

$295,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $112.34
  • 6 Days on Market
  • MLS # : 6802493
  • Updated Date : 10/30/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,626 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This Kennesaw two-story home offers granite countertops and a two-car garage. This home is vacant and cleaned regularly.

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: Blue Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Blue Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9192009

* 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
Lewis Elementary School Primary Regular 704 52 6
Awtrey Middle School Middle Regular 805 53 7
Allatoona High School High Regular 1,820 93 9

Lewis Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 52
6
GreatSchools Rating

Awtrey Middle School

  • Education Level: Middle
  • # of students: 805
  • # of teachers: 53
7
GreatSchools Rating

Allatoona High School

  • Education Level: High
  • # of students: 1,820
  • # of teachers: 93
9
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,088
Property Tax -$326
Property Insurance -$78
HOA -$43
Property Management Fees -$119
CASH FLOW
$65

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.

$295,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$22,309

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7203$1,8204$1,8505$1,995
$1,995
RENT COMPS ANALYSIS
  • 1182 Cool Springs Drive Nw Kennesaw, GA 2
    • 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.65
    •  
  • 450 Darter Drive Nw Kennesaw, GA 1
    • 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 1999
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.64
    •  
  • 458 Darter Drive Nw Kennesaw, GA 3
    • 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1999
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.67
    •  
  • 3607 Indigo Creek Trail Nw Kennesaw, GA 4
    • 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 2001
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
  • 3612 Darcy Court Kennesaw, GA 5
    • 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2010
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6802493
Last Updated: 10/30/2020
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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