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213 Tennis Court Lane Nw Kennesaw, GA 30144

5 Beds 3 Baths 2,644 sqft Built 1992

INVESTimate

$265,500

List Price

$1,730

$1,557 - $1,903

Rent Est.

$285,067  ( +7.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $100.42
  • 5 Days on Market
  • MLS # : 6770632
  • Updated Date : 08/23/2020 at 08:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,644 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Great location w/restaurants & shopping minutes away. Walk to the pool, tennis courts & clubhouse for the neighborhood. Motivated Seller!! Make this home your own! This 5 bedroom & 2 1/2 bath home has a full finished basement, hardwood floors on main level, formal living w/bay window, crown molding, fireplace with marble surround, Formal Dining Room and a private fenced in backyard. Home has newer garage doors installed 4 yrs ago, Pella windows installed 2010, Sliding glass door installed just recently in basement. Great schools! Allatoona High School district

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Blue Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Blue Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9192009

* 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
Lewis Elementary School Primary Regular 704 52 6
Awtrey Middle School Middle Regular 805 53 7
Allatoona High School High Regular 1,820 93 9

Lewis Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 52
6
GreatSchools Rating

Awtrey Middle School

  • Education Level: Middle
  • # of students: 805
  • # of teachers: 53
7
GreatSchools Rating

Allatoona High School

  • Education Level: High
  • # of students: 1,820
  • # of teachers: 93
9
GreatSchools Rating
 

$238,950$292,050$265,500

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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 $1,730
EXPENSES Loan Payment -$980
Property Tax -$293
Property Insurance -$78
HOA -$43
Property Management Fees -$119
CASH FLOW
$216

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.

$265,500

PROJECTED PRICE

$1,730

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.37%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,108

INVESTMENT

$76,108

Down Payment
$66,375
Rehab Estimate
$5,750
Closing Costs
$3,983

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$980

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,375
Loan Amount $199,125
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$36,591

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,745

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,7503$1,7854$1,8205$1,850
$1,850
RENT COMPS ANALYSIS
  • 213 Tennis Court Lane Nw Kennesaw, 1
    • 5 beds 3 baths ∙ 2,644 Sqft ∙ Built 1992 5 beds 3 baths ∙ 2,644 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.65
    •  
  • 3591 Darcy Court Nw Kennesaw, 2
    • 5 beds 3 baths ∙ 2,781 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,781 Sqft ∙ Built 2005
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.63
    •  
  • 3606 Malcolm Manor Nw Kennesaw, 3
    • 4 beds 3 baths ∙ 2,772 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,772 Sqft ∙ Built 2005
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.64
    •  
  • 458 Darter Drive Nw Kennesaw, 4
    • 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1999
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.67
    •  
  • 3607 Indigo Creek Trail Nw Kennesaw, 5
    • 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 2001
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
PROPERTY LISTING DETAILS
Malinda Howe
1.404.444.0225
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770632
Last Updated: 08/23/2020
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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