Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

162 Ridgewood Drive Woodstock, GA 30188

3 Beds 2 Baths 2,284 sqft Built 1977

$220,000

List Price

$1,675

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $96.32
  • 4 Days on Market
  • MLS # : 6835689
  • Updated Date : 02/05/2021 at 12:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,284 sqft
  • Baths : 2 full
Listing Agent's Description

Beautiful, updated home minutes from historic downtown Woodstock, with easy access to I-575. Property has no HOA and is located in a cul-de-sac with fenced, gently sloping backyard. Kitchen boasts attractive stained cabinets, stainless steel appliances and tile floor, large Great Room with cathedral ceilings and stone fireplace, 2 full baths updated with stylish cabinetry with granite tops. Home has been well maintained and move-in ready.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ridgewood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $94k253k

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

Neighborhood: Ridgewood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8841697

* 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
Woodstock Elementary School Primary Regular 1,142 67 5
Woodstock Middle School Middle Regular 1,175 69 8
Woodstock High School High Regular 2,179 111 8

Woodstock Elementary School

  • Education Level: Primary
  • # of students: 1,142
  • # of teachers: 67
5
GreatSchools Rating

Woodstock Middle School

  • Education Level: Middle
  • # of students: 1,175
  • # of teachers: 69
8
GreatSchools Rating

Woodstock High School

  • Education Level: High
  • # of students: 2,179
  • # of teachers: 111
8
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,508$1,843$1,675

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,675
EXPENSES Loan Payment -$764
Property Tax -$179
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$541

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.

$220,000

PROJECTED PRICE

$1,675

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.9%
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$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

15.17

YEARS SAVED

$55,162

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,675

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,861

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7503$1,7504$1,7755$1,875
$1,875
RENT COMPS ANALYSIS
  • 162 Ridgewood Drive Woodstock, GA 1
    • 3 beds 2 baths ∙ 2,284 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,284 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.73
    •  
  • 4782 Shallow Ridge Road Ne Kennesaw, GA 2
    • 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1994
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 724 Jamie Way Woodstock, GA 3
    • 4 beds 3 baths ∙ 2,167 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,167 Sqft ∙ Built 1993
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
  • 1502 Lake Koinonia Drive Woodstock, GA 4
    • 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 1986
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.84
    •  
  • 4840 Lincoln Drive Ne Kennesaw, GA 5
    • 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 1971
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.79
    •  
PROPERTY LISTING DETAILS
Michelle Byers
1.678.860.6715
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6835689
Last Updated: 02/05/2021
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.

BESbswy