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2125 Hamby Cove Drive Acworth, GA 30102

6 Beds 4 Baths 2,540 sqft Built 2005

$368,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $144.88
  • 4 Days on Market
  • MLS # : 6851687
  • Updated Date : 03/12/2021 at 08:01
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,540 sqft
  • Baths : 4 full
Listing Agent's Description

MUST SEE THE INSIDE OF THIS IMMACULATE CRAFTSMAN STYLE HOME WITH 6 BEDROOMS/4 FULL BATH & A FULLY FINISHED BASEMENT WITH MEDIA ROOM WITH BUILT IN BASE SPEAKER, WET BAR, BEAUTIFUL DESIGNER PAINTED FLOOR. THIS HOME HAS A SEPARATE DR/LR - FAMILY RM WITH FIREPLACE OPEN TO A NEWLY REMODELED KITCHEN, GRANITE COUNTERTOPS WITH BREAKFAST BAR. 1ST FLOOR BEDROOM AND FULL BATH. UPSTAIRS W/LOFT AREA FOR OFFICE OR DEN. HUGE MASTER BR WITH LARGE WALK-IN CLOSET, MASTER BATH HAS GARDEN TUB, DOUBLE VANITY SINKS, SEPERATE SHOWER. HUGE DECK WITH FULL PATIO UNDERNEATH AND FENCED BACKYARD.

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Neighborhood: Hamby Cove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Hamby Cove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8752009

* 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
Pitner Elementary School Primary Regular 868 66 6
Palmer Middle School Middle Regular 1,030 56 9
North Cobb High School High Regular 2,856 143 7

Pitner Elementary School

  • Education Level: Primary
  • # of students: 868
  • # of teachers: 66
6
GreatSchools Rating

Palmer Middle School

  • Education Level: Middle
  • # of students: 1,030
  • # of teachers: 56
9
GreatSchools Rating

North Cobb High School

  • Education Level: High
  • # of students: 2,856
  • # of teachers: 143
7
GreatSchools Rating
 

$331,200$404,800$368,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,278
Property Tax -$407
Property Insurance -$76
HOA -$23
Property Management Fees -$119
CASH FLOW
-$34

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.

$368,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.4%
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$103,270

INVESTMENT

$103,270

Down Payment
$92,000
Rehab Estimate
$5,750
Closing Costs
$5,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,278

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,000
Loan Amount $276,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$14,610

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,753

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,870
1$1,8702$2,000
$2,000
RENT COMPS ANALYSIS
  • 2125 Hamby Cove Drive Acworth, GA 1
    • 6 beds 4 baths ∙ 2,540 Sqft ∙ Built 2005 6 beds 4 baths ∙ 2,540 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.74
    •  
  • 979 Madison Terrace Nw Acworth, GA 2
    • 5 beds 4 baths ∙ 2,890 Sqft ∙ Built 2018 5 beds 4 baths ∙ 2,890 Sqft ∙ Built 2018
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.69
    •  
PROPERTY LISTING DETAILS
Janice White
1.404.234.2794
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6851687
Last Updated: 03/12/2021
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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