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1519 Oakmont Drive Acworth, GA 30102

3 Beds 2 Baths 1,461 sqft Built 1971

$235,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $160.85
  • 17 Days on Market
  • MLS # : 6813626
  • Updated Date : 12/01/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,461 sqft
  • Baths : 2 full
Listing Agent's Description

4 sides brick. Roof 2015, double insulated vinyl windows with the tilt in feature for ease of cleaning, new paint on the entire exterior, 6 inch aluminum gutters, upgraded storm door, R30 insulation in attic, R19 insulation in garage ceiling & crawlspace, New paint throughout, trim & ceiling. New light fixtures, new LVR flooring throughout home, all stainless steel appliances. Complete remodel of bathrooms including new vanities, lighting & fixtures. New furnace 2019, new w/h 2020. Electrical panel & all the wiring 2017, washer and dryer included. A/C unit 2012

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)
  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Cherokee Estates

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $84k228k

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

Neighborhood: Cherokee Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7291603

* 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
Clark Creek Elementary School Stem Academy Primary Unknown 974 60 NA
E.t. Booth Middle School Middle Regular 1,692 91 8
Etowah High School High Regular 2,411 125 8

Clark Creek Elementary School Stem Academy

  • Education Level: Primary
  • # of students: 974
  • # of teachers: 60
NA
GreatSchools Rating

E.t. Booth Middle School

  • Education Level: Middle
  • # of students: 1,692
  • # of teachers: 91
8
GreatSchools Rating

Etowah High School

  • Education Level: High
  • # of students: 2,411
  • # of teachers: 125
8
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$867
Property Tax -$192
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$57

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.

$235,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.55%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$17,580

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,377

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2903$1,2954$1,2955$1,425
$1,425
RENT COMPS ANALYSIS
  • 1519 Oakmont Drive Acworth, GA 2
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.88
    •  
  • 5545 Crestview Drive Acworth, GA 1
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1972
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.89
    •  
  • 5759 Woodland Drive Acworth, GA 3
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1971
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.94
    •  
  • 1412 Oakmont Drive Acworth, GA 4
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1971
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.96
    •  
  • 1411 Wildwood Drive Acworth, GA 5
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1971
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.98
    •  
PROPERTY LISTING DETAILS
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6813626
Last Updated: 12/01/2020
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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