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16 Hickory Lake Drive Acworth, GA 30101

4 Beds 3 Baths 2,262 sqft Built 2001

$262,500

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $116.05
  • 3 Days on Market
  • MLS # : 6815951
  • Updated Date : 12/05/2020 at 10:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,262 sqft
  • Baths : 3 full
Listing Agent's Description

This beautiful 4 Bedroom, 3 Bath home is located in the coveted Hickory Lake Subdivision, and sits on an acre lot. No HOA! Great open floorplan, wood floors, fireplace in the great room. interior has been recently repainted. Updated Kitchen includes all appliances. The lower level has a Bedroom, full Bath and a large Great Room. Fantastic oversized garage for additional storage. Huge yard and wonderful deck. Convenient to shopping, restaurants, and schools.

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 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)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30101

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30101

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8752009

* 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
Russom Elementary School Primary Regular 814 53 8
East Paulding Middle School Middle Regular 841 50 7
North Paulding High School High Regular 2,034 91 7

Russom Elementary School

  • Education Level: Primary
  • # of students: 814
  • # of teachers: 53
8
GreatSchools Rating

East Paulding Middle School

  • Education Level: Middle
  • # of students: 841
  • # of teachers: 50
7
GreatSchools Rating

North Paulding High School

  • Education Level: High
  • # of students: 2,034
  • # of teachers: 91
7
GreatSchools Rating
 

$236,250$288,750$262,500

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$969
Property Tax -$232
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$360

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.

$262,500

PROJECTED PRICE

$1,750

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.4%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,313

INVESTMENT

$75,313

Down Payment
$65,625
Rehab Estimate
$5,750
Closing Costs
$3,938

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$969

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,625
Loan Amount $196,875
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$56,047

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,810

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6753$1,7504$1,9955$2,095
$2,095
RENT COMPS ANALYSIS
  • 16 Hickory Lake Drive Acworth, GA 3
    • 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.77
    •  
  • 49 Highlander Way Acworth, GA 1
    • 3 beds 3 baths ∙ 1,989 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,989 Sqft ∙ Built 1999
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.80
    •  
  • 116 Laurelcrest Lane Dallas, GA 2
    • 3 beds 2 baths ∙ 2,207 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,207 Sqft ∙ Built 2016
    LEASED 06/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.76
    •  
  • 182 Crown Vista Way Dallas, GA 4
    • 4 beds 3 baths ∙ 2,543 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,543 Sqft ∙ Built 2015
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 210 Inspiration Lane Dallas, GA 5
    • 4 beds 5 baths ∙ 2,426 Sqft ∙ Built 2010 4 beds 5 baths ∙ 2,426 Sqft ∙ Built 2010
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jeff Leshin
1.480.216.8266
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815951
Last Updated: 12/05/2020
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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