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122 Grant Drive # 76 Canton, GA 30114

3 Beds 3 Baths 1,719 sqft Built 2020

INVESTimate

$238,445

List Price

$1,725

$1,553 - $1,898

Rent Est.

$254,278  ( +6.64%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $138.71
  • 6 Days on Market
  • MLS # : 6770765
  • Updated Date : 08/25/2020 at 14:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,719 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Move in Ready December 2020! The Maddux floorplan provides spacious townhome living thanks to its open functional loft-style floorplan. The kitchen with beautiful white cabinets and pendant lighting over the penisula graciously flows into the great room where you can easily access the rear patio for enjoyable outdoor living. The second story owner's suite boasts a huge bath and walk-in closet. Two additional bedrooms and a laundry room complete the second story. Pre-selling in our brand new community, Parkside East with easy access to 575, downtown Historic Canton and

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: Grand Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $108k417k

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

Neighborhood: Grand Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9732955

* 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
Macedonia Elementary School Primary Regular 784 44 9
Creekland Middle School Middle Regular 1,399 80 7
Creekview High School High Regular 1,828 98 8

Macedonia Elementary School

  • Education Level: Primary
  • # of students: 784
  • # of teachers: 44
9
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
 

$214,601$262,290$238,445

PURCHASE PRICE

$1,553$1,898$1,725

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,725
EXPENSES Loan Payment -$880
Property Tax -$297
Property Insurance -$60
HOA -$85
Property Management Fees -$119
CASH FLOW
$284

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.

$238,445

PROJECTED PRICE

$1,725

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.64%
Maintenance Year (1-5) 3.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,188

INVESTMENT

$65,188

Down Payment
$59,611
Rehab Estimate
$2,000
Closing Costs
$3,577

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$880

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,611
Loan Amount $178,834
See What Happens When You Reinvest Cash Flow

11.08

YEARS SAVED

$48,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,725

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,530

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,725
$1,725
RENT COMPS ANALYSIS
  • 122 Grant Drive Canton, 2
    • 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.00
    •  
  • 625 Wiley Court Canton, 1
    • 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2005
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Katy Kwiatkowski
1.678.761.1387
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770765
Last Updated: 08/25/2020
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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