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120 Cornerstone Place Woodstock, GA 30188

3 Beds 3 Baths 2,118 sqft Built 2012

$355,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $167.61
  • 4 Days on Market
  • MLS # : 6841818
  • Updated Date : 02/19/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,118 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Pristine 3 bedroom 2.5 bath located just minutes to Downtown Woodstock! NEW exterior and interior paint. You are welcomed with an open concept floor plan, expansive kitchen & island overlooking the family room w/ granite countertops, subway tile backsplash, SS appliances, and breakfast area. Off the kitchen you will find the private, screened-in patio and fireplace. Upstairs features the Owner's Suite with a newly updated, luxurious spa shower w/ granite counters and WIC accompanied by two bedrooms w/ Jack & Jill bath, loft/office area and laundry room. Welcome Home!

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: Cornerstone Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k322k

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

Neighborhood: Cornerstone Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732081

* 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
Little River Elementary School Primary Regular 1,446 80 6
Mill Creek Middle School Middle Regular 1,284 72 7
River Ridge High School High Regular 1,601 88 8

Little River Elementary School

  • Education Level: Primary
  • # of students: 1,446
  • # of teachers: 80
6
GreatSchools Rating

Mill Creek Middle School

  • Education Level: Middle
  • # of students: 1,284
  • # of teachers: 72
7
GreatSchools Rating

River Ridge High School

  • Education Level: High
  • # of students: 1,601
  • # of teachers: 88
8
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,233
Property Tax -$256
Property Insurance -$68
HOA -$115
Property Management Fees -$119
CASH FLOW
$48

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.

$355,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.4%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$20,825

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,864

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,8404$1,8505$2,100
$2,100
RENT COMPS ANALYSIS
  • 120 Cornerstone Place Woodstock, GA 3
    • 3 beds 3 baths ∙ 2,118 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,118 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.87
    •  
  • 528 Mullein Trace Woodstock, GA 1
    • 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2003
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 223 Persimmon Trail Woodstock, GA 2
    • 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2003
    LEASED 12/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
  • 704 Aroura Drive Woodstock, GA 4
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2006
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 402 Beeton Court Woodstock, GA 5
    • 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2004
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
PROPERTY LISTING DETAILS
Chris Thom
1.347.866.0384
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6841818
Last Updated: 02/19/2021
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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