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1421 Ridgeway Drive Nw Acworth, GA 30102

5 Beds 3 Baths 2,756 sqft Built 1992

$400,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $145.14
  • 4 Days on Market
  • MLS # : 6803941
  • Updated Date : 11/06/2020 at 09:49
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,756 sqft
  • Baths : 3 full
Listing Agent's Description

Unique find in Cobb county! This mini-homestead features a private three-acre fenced back yard that has to be seen to be truly appreciated. Property features a fenced raised-bed garden, blueberry bushes, fruit trees, wooded area with walking trails, and a chicken coop. Walkable to fully stocked private lake.

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: Clearwater Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Clearwater Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8752009

* 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
Pitner Elementary School Primary Regular 868 66 6
Palmer Middle School Middle Regular 1,030 56 9
North Cobb High School High Regular 2,856 143 7

Pitner Elementary School

  • Education Level: Primary
  • # of students: 868
  • # of teachers: 66
6
GreatSchools Rating

Palmer Middle School

  • Education Level: Middle
  • # of students: 1,030
  • # of teachers: 56
9
GreatSchools Rating

North Cobb High School

  • Education Level: High
  • # of students: 2,856
  • # of teachers: 143
7
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,476
Property Tax -$442
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$107

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.

$400,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.4%
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-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$14,747

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,991

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7503$1,8994$2,0105$2,325
$2,325
RENT COMPS ANALYSIS
  • 1421 Ridgeway Drive Nw Acworth, GA 4
    • 5 beds 3 baths ∙ 2,756 Sqft ∙ Built 1992 5 beds 3 baths ∙ 2,756 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.73
    •  
  • 1154 Reading Drive Nw Acworth, GA 1
    • 5 beds 3 baths ∙ 2,630 Sqft ∙ Built 1984 5 beds 3 baths ∙ 2,630 Sqft ∙ Built 1984
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.64
    •  
  • 1301 Chandler Court Acworth, GA 2
    • 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 1992
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.70
    •  
  • 1160 Meadow Oaks Drive Acworth, GA 3
    • 4 beds 3 baths ∙ 2,558 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,558 Sqft ∙ Built 1987
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.74
    •  
  • 5192 Lupine Lane Nw Acworth, GA 5
    • 4 beds 3 baths ∙ 2,884 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,884 Sqft ∙ Built 1988
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.81
    •  
PROPERTY LISTING DETAILS
Tracy Gaudiano
1.404.944.5393
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803941
Last Updated: 11/06/2020
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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