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1481 Pine Springs Drive Nw Kennesaw, GA 30152

4 Beds 3 Baths 2,377 sqft Built 1999

$385,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $161.97
  • 1 Days on Market
  • MLS # : 6856513
  • Updated Date : 03/21/2021 at 00:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,377 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

The seller really has done it all, AMAZING HOME, Top quality improvements, REAL hardwood floor throughout home, All new kitchen, cabinets, center island, appliances & custom tile backsplash. All bathrooms have been remodeled, All new light fixtures and fans, Decorator's Fireplace in Family room, Custom built closets in the master bedroom and laundry, new garage doors and openers and Barn doors. All work in this homes exudes quality. Seller thought it was their forever home. All this located on a quite street with private backyard ,walking distance to school

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)

PRICE & RENT TRENDS

Neighborhood: Pine Mountain Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Pine Mountain Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9192009

* 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
Hayes Elementary School Primary Regular 959 66 7
Pine Mountain Middle School Middle Regular 698 48 6
Kennesaw Mountain High School High Regular 2,162 120 8

Hayes Elementary School

  • Education Level: Primary
  • # of students: 959
  • # of teachers: 66
7
GreatSchools Rating

Pine Mountain Middle School

  • Education Level: Middle
  • # of students: 698
  • # of teachers: 48
6
GreatSchools Rating

Kennesaw Mountain High School

  • Education Level: High
  • # of students: 2,162
  • # of teachers: 120
8
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,337
Property Tax -$340
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$130

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.

$385,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$10,440

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,812

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,740
1$1,7402$1,7953$1,8504$1,8955$1,920
$1,920
RENT COMPS ANALYSIS
  • 1481 Pine Springs Drive Nw Kennesaw, GA 1
    • 4 beds 3 baths ∙ 2,377 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,377 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.73
    •  
  • 1918 Westover Lane Nw Kennesaw, GA 2
    • 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 1999
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
  • 1971 Cobblewood Drive Nw Kennesaw, GA 3
    • 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 1996
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 1682 Stilesboro Ridge Drive Nw Kennesaw, GA 4
    • 3 beds 2 baths ∙ 2,398 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,398 Sqft ∙ Built 2003
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.79
    •  
  • 2172 Shillings Chase Drive Kennesaw, GA 5
    • 4 beds 4 baths ∙ 2,640 Sqft ∙ Built 1988 4 beds 4 baths ∙ 2,640 Sqft ∙ Built 1988
    property image
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.73
    •  
PROPERTY LISTING DETAILS
Cheryl D Bright Schalk
1.678.428.8612
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6856513
Last Updated: 03/21/2021
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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