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1507 Rocky Creek Drive Woodstock, GA 30188

3 Beds 3 Baths 2,144 sqft Built 1988

$325,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $151.59
  • 4 Days on Market
  • MLS # : 6858354
  • Updated Date : 03/26/2021 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,144 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Look no further! This charming farmhouse w/ wrap around porch will have you at hello! Enjoy your very own .65 acre lot in a prime location between Downtown Woodstock + Downtown Roswell with plenty of outdoor space to entertain this Spring! Newer flooring + paint throughout. Eat-in kitchen AND separate dining room! Living room boasts of brick fireplace. Large master features walk-in closet _ bathroom w/ separate tub + shower. Secondary bedroom sizes will not disappoint! Drive under garage w/ partial unfinished space for addtl' storage in basement! BRAND NEW water heater*

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: Rocky Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Rocky Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9232009

* 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
Arnold Mill Elementary School Primary Regular 862 51 7
Mill Creek Middle School Middle Regular 1,284 72 7
River Ridge High School High Regular 1,601 88 8

Arnold Mill Elementary School

  • Education Level: Primary
  • # of students: 862
  • # of teachers: 51
7
GreatSchools Rating

Mill Creek Middle School

  • Education Level: Middle
  • # of students: 1,284
  • # of teachers: 72
7
GreatSchools Rating

River Ridge High School

  • Education Level: High
  • # of students: 1,601
  • # of teachers: 88
8
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,129
Property Tax -$265
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$218

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.

$325,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.9%
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$0.0$5.0k$10k$15k$20k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$36,427

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,978

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,9504$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 1507 Rocky Creek Drive Woodstock, GA 2
    • 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 100 Wiley Hills Trail Woodstock, GA 1
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2003
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
  • 207 Colony Center Drive Woodstock, GA 3
    • 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 1996
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
  • 402 Beeton Court Woodstock, GA 4
    • 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2004
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 203 Revillion Way Woodstock, GA 5
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2006
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
PROPERTY LISTING DETAILS
Laura Holbert
1.404.217.6649
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6858354
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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