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122 Grant Drive #83 Canton, GA 30114

3 Beds 3 Baths 1,933 sqft Built 2020

$278,375

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $144.01
  • 5 Days on Market
  • MLS # : 6802557
  • Updated Date : 10/31/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,933 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Move in Ready November 2020! The Ellison floorplan provides spacious townhome living thanks to its open functional loft-style floorplan. The kitchen features stainless steel appliances and granite countertops graciously flows into the great room where you can easily access the rear patio for enjoyable outdoor living. This lightfilled townhome is an end unit. 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

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
 

$250,538$306,213$278,375

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,027
Property Tax -$297
Property Insurance -$65
HOA -$85
Property Management Fees -$119
CASH FLOW
$17

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.

$278,375

PROJECTED PRICE

$1,610

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 3.00%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,769

INVESTMENT

$75,769

Down Payment
$69,594
Rehab Estimate
$2,000
Closing Costs
$4,176

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,027

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,594
Loan Amount $208,781
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$16,792

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,095

    COMP ESTIMATED VALUE
  • $0.57

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$1,6503$1,6504$1,725
$1,725
RENT COMPS ANALYSIS
  • 122 Grant Drive Canton, GA 1
    • 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.83
    •  
  • 625 Wiley Court Canton, GA 2
    • 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
    •  
  • 505 Canton Court Canton, GA 3
    • 3 beds 3 baths ∙ 2,199 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,199 Sqft ∙ Built 2002
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 600 Wiley Court Canton, GA 4
    • 3 beds 2 baths ∙ 2,138 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,138 Sqft ∙ Built 2003
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.81
    •  
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 #: 6802557
Last Updated: 10/31/2020
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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