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242 Creek View Lane Acworth, GA 30102

4 Beds 3 Baths 2,500 sqft Built 2016

$340,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $136.00
  • 4 Days on Market
  • MLS # : 6808072
  • Updated Date : 11/13/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,500 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome Home! Beautiful Craftsman Home in Parc at Kellogg Creek. Step inside from the Rocking Chair Front Porch to the 2 Story Entry onto Brand New LVP flooring. Entertain in the Open Concept Kitchen and Family Room with a fireplace. Kitchen features a large island, granite, stained cabinetry and updated backsplash. This home has a formal Dining room and additional front flex room that would make a great office, playroom, music room or Livingroom.

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: Parc at Kellogg

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $103k289k

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

Neighborhood: Parc at Kellogg

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8751920

* 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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,254
Property Tax -$296
Property Insurance -$116
HOA -$42
Property Management Fees -$119
CASH FLOW
$173

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.

$340,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.3%
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$1.2M

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$32,198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.43

    LIST RENT PER SQFT
  • $2,217

    COMP ESTIMATED VALUE
  • $0.48

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,150
$2,150
RENT COMPS ANALYSIS
  • 242 Creek View Lane Acworth, GA 1
    • 4 beds 3 baths ∙ 4,618 Sqft ∙ Built 2016 4 beds 3 baths ∙ 4,618 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.43
    •  
  • 112 Myrtle Road Woodstock, GA 2
    • 4 beds 4 baths ∙ 4,268 Sqft ∙ Built 2003 4 beds 4 baths ∙ 4,268 Sqft ∙ Built 2003
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.49
    •  
  • 305 Parc Crossing Acworth, GA 3
    • 4 beds 3 baths ∙ 4,546 Sqft ∙ Built 2016 4 beds 3 baths ∙ 4,546 Sqft ∙ Built 2016
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.47
    •  
PROPERTY LISTING DETAILS
Lorraine Danielson
1.678.270.7511
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808072
Last Updated: 11/13/2020
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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