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2130 Hamby Cove Drive Nw Acworth, GA 30102

4 Beds 3 Baths 2,655 sqft Built 2005

$300,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $112.99
  • 2 Days on Market
  • MLS # : 6813361
  • Updated Date : 11/28/2020 at 23:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,655 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Lovely craftsman style two-story home w/open floor plan, formal dining, big family room, stone fireplace, huge kitchen, perfect for entertaining with breakfast bar, solid surface countertops, and tile floors! This beauty has fresh paint inside and out, hardwood floors, columns, upgraded vanity, new carpet throughout upper level, oversized master suite with spa bath, and spacious secondary bedrooms. The big backyard is perfect for family hangouts with swing, arbor and playset. Love to fish? This home is located close to Lake Allatoona!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,107
Property Tax -$332
Property Insurance -$78
HOA -$25
Property Management Fees -$119
CASH FLOW
$259

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.

$300,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.64%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$44,062

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,131

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,920
1$1,9202$1,9753$2,0954$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2130 Hamby Cove Drive Nw Acworth, GA 1
    • 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.72
    •  
  • 1806 Babbling Brook Nw Acworth, GA 2
    • 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 1998
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.77
    •  
  • 2403 Doubletree Drive Acworth, GA 3
    • 4 beds 3 baths ∙ 2,765 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,765 Sqft ∙ Built 1988
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.76
    •  
  • 4478 Hamby Pond Place Nw Acworth, GA 4
    • 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 2005
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 2105 November Court Nw Acworth, GA 5
    • 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 1991
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
PROPERTY LISTING DETAILS
Kim Clayton
1.404.409.7253
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6813361
Last Updated: 11/28/2020
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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