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1440 Longbow Court Canton, GA 30115

3 Beds 2 Baths 1,831 sqft Built 1985

$259,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $141.94
  • 4 Days on Market
  • MLS # : 6859479
  • Updated Date : 03/26/2021 at 16:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,831 sqft
  • Baths : 2 full
Listing Agent's Description

Wonderful well maintained ranch! New paint throughout and New carpet in bedrooms and family room, stone fireplace with gas logs, huge sunroom/family room off back of home with separate a/c unit accommodates the sunroom, tiled bathrooms, spacious bedrooms, patio and large deck for entertaining, separate workshop, level fenced yard with outbuilding. This home is situated on a quiet neighborhood.**ESTATE OWNED - AS IS**

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Indian Springs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k267k

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

Neighborhood: Indian Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $8001681

* 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
Dean Rusk Middle School Middle Regular 901 50 7
Sequoyah High School High Regular 1,715 93 8
Dean Rusk Middle School Middle Unknown NA

Dean Rusk Middle School

  • Education Level: Middle
  • # of students: 901
  • # of teachers: 50
7
GreatSchools Rating

Sequoyah High School

  • Education Level: High
  • # of students: 1,715
  • # of teachers: 93
8
GreatSchools Rating

Dean Rusk Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$903
Property Tax -$251
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$164

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.

$259,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$24,104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5653$1,5854$1,5955$1,680
$1,680
RENT COMPS ANALYSIS
  • 1440 Longbow Court Canton, GA 1
    • 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.82
    •  
  • 517 Charles Drive Canton, GA 2
    • 4 beds 3 baths ∙ 1,825 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,825 Sqft ∙ Built 2000
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.86
    •  
  • 6080 Jonathan Trace Canton, GA 3
    • 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1990
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.80
    •  
  • 522 Charles Drive Canton, GA 4
    • 4 beds 3 baths ∙ 1,843 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,843 Sqft ∙ Built 2001
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.87
    •  
  • 934 Gardenia Curve Canton, GA 5
    • 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2005
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.90
    •  
PROPERTY LISTING DETAILS
Linda Westmoreland
1.770843224
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6859479
Last Updated: 03/26/2021
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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