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215 Emerald Cove Lane Woodstock, GA 30189

3 Beds 2 Baths 1,596 sqft Built 1985

$275,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $172.31
  • 5 Days on Market
  • MLS # : 6855108
  • Updated Date : 03/18/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,596 sqft
  • Baths : 2 full
Listing Agent's Description

Slightly Over an ACRE Lot In Lake Allatoona Community -- So Close To Day Use Parks, Recreation, Boat Launch & More! Convenient To I-575 & Hwy 92. This Adorable Cape Cod Style 1.5 Story Home Enjoys A MASTER ON THE MAIN Level & 2 Additional HUGE Rooms & Bath Upstairs. Partial Finishing In Basement, A Huge Garage With Additional Storage & An "Under The Screened" Porch Exterior Storage Area -- Ideal For Kayaks, Etc. The Kitchen & Baths Have GRANITE Counters. This Home Needs Attention, But Has GREAT BONES -- Being Sold As-Is.

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: Emerald Cove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Emerald Cove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9182009

* 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
Boston Elementary School Primary Regular 616 38 6
E.t. Booth Middle School Middle Regular 1,692 91 8
Etowah High School High Regular 2,411 125 8

Boston Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 38
6
GreatSchools Rating

E.t. Booth Middle School

  • Education Level: Middle
  • # of students: 1,692
  • # of teachers: 91
8
GreatSchools Rating

Etowah High School

  • Education Level: High
  • # of students: 2,411
  • # of teachers: 125
8
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$955
Property Tax -$224
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$134

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.

$275,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.5%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$25,736

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,559

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,449
1$1,4492$1,4903$1,6804$1,875
$1,875
RENT COMPS ANALYSIS
  • 215 Emerald Cove Lane Woodstock, GA 2
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.93
    •  
  • 297 N Briar Ridge Woodstock, GA 1
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1987
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.99
    •  
  • 6004 Seren Cove Woodstock, GA 3
    • 3 beds 3 baths ∙ 1,734 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,734 Sqft ∙ Built 1994
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.97
    •  
  • 411 Pine Grove Way Woodstock, GA 4
    • 4 beds 3 baths ∙ 1,928 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,928 Sqft ∙ Built 1991
    LEASED 03/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.97
    •  
PROPERTY LISTING DETAILS
Christine L Coffman
1.770.361.8141
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6855108
Last Updated: 03/18/2021
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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