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1657 Bennett Drive Mcdonough, GA 30253

4 Beds 3 Baths 2,600 sqft Built 2002

$260,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $100.00
  • 3 Days on Market
  • MLS # : 6805855
  • Updated Date : 11/07/2020 at 14:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,600 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This spacious home has everything for the growing family or those just looking to spread out. With a main floor office space, separated dining space and additional breakfast nook, large living room with fireplace, huge master suite with separate sitting room, and a huge unfinished basement (stubbed with plumbing), you will find plenty of room. Home has recently received all new carpeting and fresh paint ready to move in. Large corner lot. Community features a pool and clubhouse.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Simpsons Mill Plantation

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Simpsons Mill Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8171571

* 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
Luella Elementary School Primary Regular 662 39 5
Luella Middle School Middle Regular 792 47 5
Luella High School High Regular 1,389 82 5

Luella Elementary School

  • Education Level: Primary
  • # of students: 662
  • # of teachers: 39
5
GreatSchools Rating

Luella Middle School

  • Education Level: Middle
  • # of students: 792
  • # of teachers: 47
5
GreatSchools Rating

Luella High School

  • Education Level: High
  • # of students: 1,389
  • # of teachers: 82
5
GreatSchools Rating
 

$234,000$286,000$260,000

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 -$959
Property Tax -$300
Property Insurance -$77
HOA -$23
Property Management Fees -$119
CASH FLOW
$102

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$260,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
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$14k

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$16,018

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
  • $0.61

    LIST RENT PER SQFT
  • $1,703

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,565
1$1,5652$1,5803$1,6504$1,7955$1,890
$1,890
RENT COMPS ANALYSIS
  • 1657 Bennett Drive Mcdonough, GA 2
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.61
    •  
  • 109 Parkview Place Drive Mcdonough, GA 1
    • 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 2006
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.65
    •  
  • 5003 Dockside Drive Mcdonough, GA 3
    • 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2005
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.66
    •  
  • 1676 Zacharys Way Mcdonough, GA 4
    • 4 beds 3 baths ∙ 2,796 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,796 Sqft ∙ Built 2001
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.64
    •  
  • 1609 Zacharys Way Mcdonough, GA 5
    • 4 beds 3 baths ∙ 2,817 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,817 Sqft ∙ Built 2000
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.67
    •  
PROPERTY LISTING DETAILS
Jeremy Garriott
1.480.351.6622
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805855
Last Updated: 11/07/2020
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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