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2005 Skyhawk Lane Acworth, GA 30102

3 Beds 2 Baths 1,738 sqft Built 1978

$225,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $129.46
  • 4 Days on Market
  • MLS # : 6835824
  • Updated Date : 02/05/2021 at 15:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,738 sqft
  • Baths : 2 full
Listing Agent's Description

Move in Ready offering Numerous Recent Premium Renovations! If you are seeking a tranquil lifestyle in close proximity to Lake Allatoona your search stops here! Spacious light filled home nestled on an approximate .61AC homesite offers a large lower level with multi functional nicely sized finished room, storage area with laundry hookups and an oversized garage that can accommodate 3 vehicles! New within the last 15 months to present: roof, gutters, all new double pane low E windows with argon gas, deck, furnace, air conditioner, water heater, deck,

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: Kellogg Creek North

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $90k228k

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

Neighborhood: Kellogg Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7491603

* 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
Boston Elementary School Primary Regular 616 38 6
E.t. Booth Middle School Middle Regular 1,692 91 8
Etowah High School High Regular 2,411 125 8

Boston Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 38
6
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$782
Property Tax -$184
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$195

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.

$225,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.60%

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$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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$26,896

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,512

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,3753$1,5994$1,6005$1,745
$1,745
RENT COMPS ANALYSIS
  • 2005 Skyhawk Lane Acworth, GA 1
    • 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.77
    •  
  • 1022 Braddock Circle Woodstock, GA 2
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1988
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.92
    •  
  • 6476 Victory Drive Acworth, GA 3
    • 4 beds 2 baths ∙ 1,927 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,927 Sqft ∙ Built 1995
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.83
    •  
  • 1022 Queensbury Run Acworth, GA 4
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1996
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 411 Bennett Farms Place Acworth, GA 5
    • 4 beds 4 baths ∙ 2,088 Sqft ∙ Built 1995 4 beds 4 baths ∙ 2,088 Sqft ∙ Built 1995
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.84
    •  
PROPERTY LISTING DETAILS
John C Ehlinger
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6835824
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.

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