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128 Southfork Drive Woodstock, GA 30189

3 Beds 2 Baths 2,232 sqft Built 1983

$249,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $111.96
  • 3 Days on Market
  • MLS # : 6831651
  • Updated Date : 01/23/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,232 sqft
  • Baths : 2 full
Listing Agent's Description

This is the one! Cozy split ranch home is light, bright and move in ready . Home features gorgeous laminate hardwoods, new carpet, stainless steel appliances and fresh paint. Open family room with stone fireplace and separate dining area. Large master suite w/bath and 2 additional bedrooms and 2nd bath. Large level backyard is fenced with an oversized deck for entertaining. New 1yr old roof! Minutes to schools, shopping, Lake Allatoona and Downtown Woodstock. Hurry to see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Neighborhood: Southfork

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $97k321k

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

Neighborhood: Southfork

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8662009

* 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
Boston Elementary School Primary Regular 616 38 6
E.t. Booth Middle School Middle Regular 1,692 91 8
Etowah High School High Regular 2,411 125 8

Boston Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 38
6
GreatSchools Rating

E.t. Booth Middle School

  • Education Level: Middle
  • # of students: 1,692
  • # of teachers: 91
8
GreatSchools Rating

Etowah High School

  • Education Level: High
  • # of students: 2,411
  • # of teachers: 125
8
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$868
Property Tax -$204
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$419

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.

$249,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.5%
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$5.0k$10k$15k$20k

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

13.08

YEARS SAVED

$52,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,903

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,8353$1,9254$1,9455$1,945
$1,945
RENT COMPS ANALYSIS
  • 128 Southfork Drive Woodstock, GA 1
    • 3 beds 2 baths ∙ 2,232 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,232 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.75
    •  
  • 1627 Eagle Drive Woodstock, GA 2
    • 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1999
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.84
    •  
  • 408 Summerchase Way Woodstock, GA 3
    • 4 beds 3 baths ∙ 2,326 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,326 Sqft ∙ Built 1991
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.83
    •  
  • 1004 Atherton Lane Woodstock, GA 4
    • 3 beds 3 baths ∙ 2,335 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,335 Sqft ∙ Built 1985
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.83
    •  
  • 329 Mirramont Court Woodstock, GA 5
    • 3 beds 3 baths ∙ 2,138 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,138 Sqft ∙ Built 2000
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.91
    •  
PROPERTY LISTING DETAILS
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831651
Last Updated: 01/23/2021
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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