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1450 Pine Lark Drive Canton, GA 30114

4 Beds 3 Baths 2,104 sqft Built 1985

INVESTimate

$268,500

List Price

$1,660

$1,494 - $1,826

Rent Est.

$286,328  ( +6.64%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1985
  • Price/Sqft : $127.61
  • 9 Days on Market
  • MLS # : 6770324
  • Updated Date : 08/23/2020 at 21:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,104 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

APPOINTMENT ONLY. Your Buyer will love the location & convenience of this home. Only minutes to shopping & I575, 1/2 Acre corner lot in beautiful established neighborhood with NO HOA. Screened porch & deck overlook private fenced back yard. Home has been updated with brand new roof, HVAC only 1 yr old, water heater 2-3 yrs old. Recent termite inspection & treatment with 1 yr bond. (Letter to be furnished at closing). Separate Foyer entrance w/stone floor, cathedral ceiling greatroom with w/woodburning fireplace, gas starter and electric logs that are easily removed

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: Larkwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $103k267k

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

Neighborhood: Larkwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500155016001650Rent in $9731681

* 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
Liberty Elementary School Primary Regular 1,274 68 8
Freedom Middle School Middle Regular 1,119 65 9
Cherokee High School High Regular 2,378 135 6

Liberty Elementary School

  • Education Level: Primary
  • # of students: 1,274
  • # of teachers: 68
8
GreatSchools Rating

Freedom Middle School

  • Education Level: Middle
  • # of students: 1,119
  • # of teachers: 65
9
GreatSchools Rating

Cherokee High School

  • Education Level: High
  • # of students: 2,378
  • # of teachers: 135
6
GreatSchools Rating
 

$241,650$295,350$268,500

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$991
Property Tax -$219
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$264

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.

$268,500

PROJECTED PRICE

$1,660

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.64%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,903

INVESTMENT

$76,903

Down Payment
$67,125
Rehab Estimate
$5,750
Closing Costs
$4,028

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$991

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,125
Loan Amount $201,375
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$41,958

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,830

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,6603$1,6754$1,7505$1,900
$1,900
RENT COMPS ANALYSIS
  • 1450 Pine Lark Drive Canton, 2
    • 4 beds 3 baths ∙ 2,104 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,104 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.79
    •  
  • 202 Ranier Court Canton, 1
    • 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 2005
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.81
    •  
  • 247 Diamond Valley Pass Canton, 3
    • 4 beds 3 baths ∙ 1,912 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,912 Sqft ∙ Built 2002
    property image
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.88
    •  
  • 500 Sapphire Valley Lane Canton, 4
    • 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 2003
    property image
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
  • 154 N Gold Mill Place N Canton, 5
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2004
    property image
    LEASED 07/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.84
    •  
PROPERTY LISTING DETAILS
Patricia Saxon
1.770.490.5258
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770324
Last Updated: 08/23/2020
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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