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119 Covington Drive Ball Ground, GA 30107

3 Beds 3 Baths 1,800 sqft Built 2020

$279,990

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $155.55
  • 2 Days on Market
  • MLS # : 6816065
  • Updated Date : 12/05/2020 at 15:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful 3 bedroom, 2.5 bath home that sits on a quiet cul de sac in a developed neighborhood. Large covered front porch. Open floor plan with kitchen that over looks the living and dining rooms. Kitchen has white shaker style cabinets, granite counters, subway tile backsplash, stainless appliances, large island with apron sink. LVP throughout main level. Master bedroom has large walk in closet. Tiled shower in master bath. No HOA. Easy access to 575. Only a couple minutes to downtown Ball Ground. Creekview HS/Creekland MS/Ball Ground ES.

SEE MORE

MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Olde Mill

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $97k235k

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

Neighborhood: Olde Mill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9491530

* 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
Ball Ground Elementary School Stem Academy Primary Regular 569 33 7
Creekland Middle School Middle Regular 1,399 80 7
Creekview High School High Regular 1,828 98 8

Ball Ground Elementary School Stem Academy

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 33
7
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
 

$251,991$307,989$279,990

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,033
Property Tax -$268
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$78

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$279,990

PROJECTED PRICE

$1,560

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.3%
Maintenance Year (1-5) 3.00%
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

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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,197

INVESTMENT

$76,197

Down Payment
$69,998
Rehab Estimate
$2,000
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,998
Loan Amount $209,993
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$21,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,746

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,6553$1,7854$1,850
$1,850
RENT COMPS ANALYSIS
  • 119 Covington Drive Ball Ground, GA 1
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.87
    •  
  • 156 Mount Moriah Road Ball Ground, GA 2
    • 4 beds 3 baths ∙ 1,898 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,898 Sqft ∙ Built 2013
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,655
    • $0.87
    •  
  • 165 Mount Moriah Road Ball Ground, GA 3
    • 4 beds 3 baths ∙ 1,803 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,803 Sqft ∙ Built 2013
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.99
    •  
  • 312 Spence Cir Circle Ball Ground, GA 4
    • 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 2016
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
PROPERTY LISTING DETAILS
Leigh Anne Bolan
1.404.310.5231
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6816065
Last Updated: 12/05/2020
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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