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119 Park Forest Drive Nw Kennesaw, GA 30144

4 Beds 3 Baths 2,248 sqft Built 1999

$245,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $108.99
  • 4 Days on Market
  • MLS # : 6805148
  • Updated Date : 11/06/2020 at 11:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,248 sqft
  • Baths : 3 full
Listing Agent's Description

Cute Split Level in a Great Neighborhood! Deck off the Kitchen overlooking the Private Wooded Lot. Some New Interior Paint. Wood-Like Floors through out Family Room, Kitchen and Dining Area. Family Room has Vaulted Ceilings and Fireplace with Gas Starter. Large Master Suite with Trey Ceiling, Master Bath has Tile Floor, Two Vanities and Separate Tub/Shower. Two Secondary Bedrooms on Main Level and Hall Bath with Tile Floor. Finished Terrace Level has Large Family/Bonus/Exercise Room and Bedroom with Full Bath.

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 Park at Brookhaven

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $106k321k

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

Neighborhood: The Park at Brookhaven

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7942009

* 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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$904
Property Tax -$271
Property Insurance -$71
HOA -$33
Property Management Fees -$119
CASH FLOW
$202

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.

$245,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.0%
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

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$34,220

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,759

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6954$1,7855$1,900
$1,900
RENT COMPS ANALYSIS
  • 119 Park Forest Drive Nw Kennesaw, GA 2
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 1162 Cool Springs Drive Nw Kennesaw, GA 1
    • 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 1996
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.77
    •  
  • 3413 Clubside Court Kennesaw, GA 3
    • 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1999
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
  • 3525 Clear Creek Crossing Kennesaw, GA 4
    • 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2006
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.78
    •  
  • 3529 Butler Springs Trace Kennesaw, GA 5
    • 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 2003
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
PROPERTY LISTING DETAILS
Karen Grattafiori
1.404.754.9209
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805148
Last Updated: 11/06/2020
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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