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2040 Wellcrest Drive Nw Kennesaw, GA 30152

3 Beds 3 Baths 1,992 sqft Built 1991

INVESTimate

$272,900

List Price

$1,720

$1,548 - $1,892

Rent Est.

$287,718  ( +5.43%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $137.00
  • 8 Days on Market
  • MLS # : 6769061
  • Updated Date : 08/20/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,992 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful two story home with master on the main.Open two story great room and foyer. Open loft which can be used as playroom, or office. Updated kitchen and bathrooms.Kitchen has granite counter tops and stainless steel appliances. Ceiling fans in all bedrooms. Recently painted inside. Nice flat corner lot with partially fenced backyard. Well maintained one owner home, in a great neighborhood.

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: Butler Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $103k239k

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

Neighborhood: Butler Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8351723

* 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
Bullard Elementary School Primary Regular 921 62 7
Mcclure Middle School Middle Regular 1,119 64 8
Kennesaw Mountain High School High Regular 2,162 120 8

Bullard Elementary School

  • Education Level: Primary
  • # of students: 921
  • # of teachers: 62
7
GreatSchools Rating

Mcclure Middle School

  • Education Level: Middle
  • # of students: 1,119
  • # of teachers: 64
8
GreatSchools Rating

Kennesaw Mountain High School

  • Education Level: High
  • # of students: 2,162
  • # of teachers: 120
8
GreatSchools Rating
 

$245,610$300,190$272,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,007
Property Tax -$317
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$212

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.

$272,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 5.43%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,069

INVESTMENT

$78,069

Down Payment
$68,225
Rehab Estimate
$5,750
Closing Costs
$4,094

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,225
Loan Amount $204,675
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$33,233

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,623

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,494
1$1,4942$1,5753$1,6004$1,6505$1,720
$1,720
RENT COMPS ANALYSIS
  • 2040 Wellcrest Drive Nw Kennesaw, 5
    • 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.86
    •  
  • 1701 Live Oak Drive Nw Kennesaw, 1
    • 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1981
    LEASED 04/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,494
    • $0.82
    •  
  • 4055 Woodland Drive Nw Kennesaw, 2
    • 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 1976
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.85
    •  
  • 5040 Woodland Drive Nw Kennesaw, 3
    • 4 beds 3 baths ∙ 1,968 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,968 Sqft ∙ Built 1980
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.81
    •  
  • 3236 Summer Stream Lane Nw Kennesaw, 4
    • 3 beds 3 baths ∙ 2,125 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,125 Sqft ∙ Built 2003
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
PROPERTY LISTING DETAILS
Chris Wilkerson
1.678.920.1397
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6769061
Last Updated: 08/20/2020
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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