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151 Boones Ridge Parkway Se Acworth, GA 30102

4 Beds 4 Baths 1,738 sqft Built 1997

$275,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $158.23
  • 6 Days on Market
  • MLS # : 6809939
  • Updated Date : 12/30/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,738 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

This Acworth one-story home offers granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 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)
  • 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Zip Code: 30102

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k228k

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

Zip Code: 30102

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8021603

* 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
Allatoona Elementary School Primary Regular 465 33 4
South Central Middle School Middle Regular 638 44 4
Woodland High School High Regular 1,689 99 5

Allatoona Elementary School

  • Education Level: Primary
  • # of students: 465
  • # of teachers: 33
4
GreatSchools Rating

South Central Middle School

  • Education Level: Middle
  • # of students: 638
  • # of teachers: 44
4
GreatSchools Rating

Woodland High School

  • Education Level: High
  • # of students: 1,689
  • # of teachers: 99
5
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,015
Property Tax -$214
Property Insurance -$61
HOA -$17
Property Management Fees -$119
CASH FLOW
$155

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.

$275,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.4%
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$1.0M

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$29,262

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,582

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,6003$1,6454$1,6805$1,695
$1,695
RENT COMPS ANALYSIS
  • 151 Boones Ridge Parkway Se Acworth, GA 1
    • 4 beds 4 baths ∙ 1,738 Sqft ∙ Built 1997 4 beds 4 baths ∙ 1,738 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.91
    •  
  • 1026 Pepper Circle Nw Acworth, GA 2
    • 5 beds 3 baths ∙ 1,843 Sqft ∙ Built 1999 5 beds 3 baths ∙ 1,843 Sqft ∙ Built 1999
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 4312 Brandy Ann Court Acworth, GA 3
    • 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 1993
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.96
    •  
  • 4618 Liberty Square Drive Acworth, GA 4
    • 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2005
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.90
    •  
  • 4816 Liberty Plaza Acworth, GA 5
    • 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 2005
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6809939
Last Updated: 12/30/2020
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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