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217 Providence Walk Court Canton, GA 30114

4 Beds 3 Baths 2,778 sqft Built 2015

$325,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $116.99
  • 4 Days on Market
  • MLS # : 6824433
  • Updated Date : 02/05/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,778 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This stunning home is located in the desirable Providence Walk community and is a great location within walking distance to the swimming pool and tennis court. Hard to beat curb appeal with the Charleston Style Front porches. Once you enter this home you are greeted by fresh paint throughout, hardwood floors, & lots of natural light through the abundant windows.The great room features a gas log fireplace to enjoy during this cold weather and opens up to the kitchen that offers granite counters, large center island, stainless steel appliances, walk-in pantry, and bright

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Providence Walk

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $90k321k

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

Neighborhood: Providence Walk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7182009

* 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
Teasley Middle School Middle Regular 1,423 94 6
Cherokee High School High Regular 2,378 135 6

Teasley Middle School

  • Education Level: Middle
  • # of students: 1,423
  • # of teachers: 94
6
GreatSchools Rating

Cherokee High School

  • Education Level: High
  • # of students: 2,378
  • # of teachers: 135
6
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,129
Property Tax -$265
Property Insurance -$81
HOA -$42
Property Management Fees -$119
CASH FLOW
$765

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.

$325,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.6%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

15.25

YEARS SAVED

$81,800

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,903

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$2,400
$2,400
RENT COMPS ANALYSIS
  • 217 Providence Walk Court Canton, GA 3
    • 4 beds 3 baths ∙ 2,778 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,778 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
  • 508 Gardenview Road Canton, GA 1
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2014
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.68
    •  
  • 609 Stonehurst Lane Canton, GA 2
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2015
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.69
    •  
PROPERTY LISTING DETAILS
The Davenport Group
1.404.436.1607
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6824433
Last Updated: 02/05/2021
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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