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12 Kingsbrooke Drive Palmetto, GA 30268

4 Beds 2 Baths 1,830 sqft Built 2005

$269,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $147.49
  • 3 Days on Market
  • MLS # : 6850481
  • Updated Date : 03/13/2021 at 10:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,830 sqft
  • Baths : 2 full
Listing Agent's Description

Welcome home to this gorgeous 3 bedroom, 2 bathroom ranch in Palmetto, Georgia. Built in 2005, this home has features that make it incredibly unique! Stepping into the home from the front door, you'll find a spacious living room centered around a wood-burning fireplace... Hard to find those these days! The formal room could easily be used as dining space, a playroom, or even a small home office!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Kingsbrooke

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $93k321k

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

Neighborhood: Kingsbrooke

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7842009

* 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
Brooks Elementary School Primary Regular 682 39 9
Madras Middle School Middle Regular 1,061 60 9
Northgate High School High Regular 1,790 106 7

Brooks Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 39
9
GreatSchools Rating

Madras Middle School

  • Education Level: Middle
  • # of students: 1,061
  • # of teachers: 60
9
GreatSchools Rating

Northgate High School

  • Education Level: High
  • # of students: 1,790
  • # of teachers: 106
7
GreatSchools Rating
 

$242,910$296,890$269,900

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 -$937
Property Tax -$227
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$244

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.

$269,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.3%
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$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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$36,703

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
  • $1,354

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,595
$1,595
RENT COMPS ANALYSIS
  • 12 Kingsbrooke Drive Palmetto, GA 1
    • 4 beds 2 baths ∙ 1,830 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,830 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.87
    •  
  • 45 Moss Court Palmetto, GA 2
    • 3 beds 2 baths ∙ 2,156 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,156 Sqft ∙ Built 2002
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
PROPERTY LISTING DETAILS
William Duke
1.334.375.0716
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6850481
Last Updated: 03/13/2021
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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