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183 Farmington Drive Woodstock, GA 30188

3 Beds 3 Baths 2,006 sqft Built 2004

$330,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $164.51
  • 6 Days on Market
  • MLS # : 6838335
  • Updated Date : 02/10/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,006 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This Woodstock two-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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (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)
  • #1 Most affordable big city (WalletHub, 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Farmington

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Farmington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8942009

* 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
Arnold Mill Elementary School Primary Regular 862 51 7
Mill Creek Middle School Middle Regular 1,284 72 7
River Ridge High School High Regular 1,601 88 8

Arnold Mill Elementary School

  • Education Level: Primary
  • # of students: 862
  • # of teachers: 51
7
GreatSchools Rating

Mill Creek Middle School

  • Education Level: Middle
  • # of students: 1,284
  • # of teachers: 72
7
GreatSchools Rating

River Ridge High School

  • Education Level: High
  • # of students: 1,601
  • # of teachers: 88
8
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,146
Property Tax -$285
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$14

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.

$330,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 9.6%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$17,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,645

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5854$1,6305$1,750
$1,750
RENT COMPS ANALYSIS
  • 183 Farmington Drive Woodstock, GA 4
    • 3 beds 3 baths ∙ 2,006 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,006 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.81
    •  
  • 603 Butler Court Woodstock, GA 1
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 1984
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
  • 4004 River Rock Way Woodstock, GA 2
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 1989
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 709 Winding River Way Woodstock, GA 3
    • 4 beds 2 baths ∙ 1,816 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,816 Sqft ∙ Built 1988
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.87
    •  
  • 1078 River Plantation Drive Woodstock, GA 5
    • 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1999
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6838335
Last Updated: 02/10/2021
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.

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