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214 Cross Brook Drive Acworth, GA 30102

4 Beds 2 Baths 2,030 sqft Built 1979

$220,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $108.37
  • 5 Days on Market
  • MLS # : 6806312
  • Updated Date : 11/12/2020 at 10:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,030 sqft
  • Baths : 2 full
Listing Agent's Description

CALLING ALL INVESTORS! Come check out this great opportunity in Cherokee County! This home welcomes you with a two story foyer, new flooring, new paint, updated hall bathroom, New roof with fifty year shingle, 2 tankless water heaters and new A/C unit. Highly sought after open concept living. Good size additional bedrooms and Owners suite with large walk-in closet. Huge bonus room for extra entertaining space and partial finished basement with workshop area. Great Location!! Convenient to interstate 575 & 75, Hwy 92, Kennesaw State and to tons of shops and restaurants!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Lake Forrest

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k228k

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

Neighborhood: Lake Forrest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7651603

* 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
Carmel Elementary School Primary Regular 1,190 67 8
Woodstock Middle School Middle Regular 1,175 69 8
Woodstock High School High Regular 2,179 111 8

Carmel Elementary School

  • Education Level: Primary
  • # of students: 1,190
  • # of teachers: 67
8
GreatSchools Rating

Woodstock Middle School

  • Education Level: Middle
  • # of students: 1,175
  • # of teachers: 69
8
GreatSchools Rating

Woodstock High School

  • Education Level: High
  • # of students: 2,179
  • # of teachers: 111
8
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$812
Property Tax -$179
Property Insurance -$66
HOA -$22
Property Management Fees -$119
CASH FLOW
$461

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.

$220,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

14

YEARS SAVED

$58,578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,690

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,6953$1,7004$1,7505$1,775
$1,775
RENT COMPS ANALYSIS
  • 214 Cross Brook Drive Acworth, GA 1
    • 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.82
    •  
  • 5214 Valley Tarn Acworth, GA 2
    • 3 beds 3 baths ∙ 2,046 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,046 Sqft ∙ Built 1992
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
  • 5238 Valley Tarn Acworth, GA 3
    • 3 beds 3 baths ∙ 2,026 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,026 Sqft ∙ Built 1989
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
  • 4782 Shallow Ridge Road Ne Kennesaw, GA 4
    • 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1994
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 1502 Lake Koinonia Drive Woodstock, GA 5
    • 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 1986
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.84
    •  
PROPERTY LISTING DETAILS
Brittany Niehoff
1.770.547.0256
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6806312
Last Updated: 11/12/2020
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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