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228 Deerchase Drive Woodstock, GA 30188

3 Beds 2 Baths 2,072 sqft Built 1985

$265,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $127.90
  • 3 Days on Market
  • MLS # : 6808520
  • Updated Date : 11/14/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,072 sqft
  • Baths : 2 full
Listing Agent's Description

Welcome home to this lovable contemporary with a park-like setting in Woodstock. Once inside, you’ll marvel at the vaulted great room with gorgeous stone fireplace and loads of natural light. Large, eat-in kitchen features a breakfast bar and NEW SS microwave. 3 bedrooms and 2 baths all on the main level. Finished lower level is bonus space for a man cave, playroom or home office – with walk-out to the yard. Huge deck off the main level is perfect for entertaining in the treetops – with a bonus scenic view in the winter months.

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: Deerchase

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Deerchase

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9122009

* 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
Little River Elementary School Primary Regular 1,446 80 6
Mill Creek Middle School Middle Regular 1,284 72 7
River Ridge High School High Regular 1,601 88 8

Little River Elementary School

  • Education Level: Primary
  • # of students: 1,446
  • # of teachers: 80
6
GreatSchools Rating

Mill Creek Middle School

  • Education Level: Middle
  • # of students: 1,284
  • # of teachers: 72
7
GreatSchools Rating

River Ridge High School

  • Education Level: High
  • # of students: 1,601
  • # of teachers: 88
8
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$978
Property Tax -$216
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$230

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.

$265,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.9%
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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$41,085

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,803

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6103$1,7004$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 228 Deerchase Drive Woodstock, GA 2
    • 3 beds 2 baths ∙ 2,072 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,072 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.78
    •  
  • 402 Yarrow Way Woodstock, GA 1
    • 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 2004
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 528 Mullein Trace Woodstock, GA 3
    • 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2003
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 111 Nocatee Trail Woodstock, GA 4
    • 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 1999
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 908 Dooney Drive Woodstock, GA 5
    • 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2005
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.89
    •  
PROPERTY LISTING DETAILS
Mark Spain
1.770.886.9000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808520
Last Updated: 11/14/2020
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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