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202 Coldsprings Court Mcdonough, GA 30253

3 Beds 2 Baths 1,232 sqft Built 1998

$182,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $147.73
  • 5 Days on Market
  • MLS # : 6823656
  • Updated Date : 01/07/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,232 sqft
  • Baths : 2 full
Listing Agent's Description

This McDonough one-story home offers a two-car garage. This home is vacant and cleaned regularly.

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Cross Creek

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $76k209k

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

Neighborhood: Cross Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7781509

* 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
Walnut Creek Elementary School Primary Regular 470 38 2
Henry County Middle School Middle Regular 789 49 3
Henry County High School High Regular 1,031 116 3

Walnut Creek Elementary School

  • Education Level: Primary
  • # of students: 470
  • # of teachers: 38
2
GreatSchools Rating

Henry County Middle School

  • Education Level: Middle
  • # of students: 789
  • # of teachers: 49
3
GreatSchools Rating

Henry County High School

  • Education Level: High
  • # of students: 1,031
  • # of teachers: 116
3
GreatSchools Rating
 

$163,800$200,200$182,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$632
Property Tax -$210
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$298

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.

$182,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.5%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,980

INVESTMENT

$53,980

Down Payment
$45,500
Rehab Estimate
$5,750
Closing Costs
$2,730

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $45,500
Loan Amount $136,500
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$31,370

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,310
$1,310
RENT COMPS ANALYSIS
  • 202 Coldsprings Court Mcdonough, GA
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $1.06
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6823656
Last Updated: 01/07/2021
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. © 2017 First Multiple Listing Service, Inc.

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