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2432 Cornell Circle Mcdonough, GA 30253

5 Beds 3 Baths 2,108 sqft Built 2007

$250,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $118.60
  • 3 Days on Market
  • MLS # : 6823218
  • Updated Date : 01/02/2021 at 08:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,108 sqft
  • Baths : 3 full
Listing Agent's Description

Absolutely beautiful and ready to be purchased. Gorgeous kitchen includes a 10-foot island, granite, hardwood, white cabinets and stainless steel appliances. Cathedral Master with sitting area. Beautiful master bath with double vanities, soaking tub and separate shower with glass door. 3 large bedrooms upstairs including walk-in closets. This home is amazing and a must see!!! Currently occupied by tenant through June 2021 so purchase is subject to lease be honored.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Pembrooke Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $81k228k

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

Neighborhood: Pembrooke Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Wesley Lakes Elementary School Primary Regular 530 34 4
Eagle's Landing Middle School Middle Regular 987 55 5
Eagle's Landing High School High Regular 1,226 75 5

Wesley Lakes Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 34
4
GreatSchools Rating

Eagle's Landing Middle School

  • Education Level: Middle
  • # of students: 987
  • # of teachers: 55
5
GreatSchools Rating

Eagle's Landing High School

  • Education Level: High
  • # of students: 1,226
  • # of teachers: 75
5
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$922
Property Tax -$288
Property Insurance -$68
HOA -$100
Property Management Fees -$119
CASH FLOW
$183

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$21,210

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,7553$1,7754$1,7755$1,845
$1,845
RENT COMPS ANALYSIS
  • 2432 Cornell Circle Mcdonough, GA 1
    • 5 beds 3 baths ∙ 2,108 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,108 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.80
    •  
  • 285 Labrea Boulevard Mcdonough, GA 2
    • 4 beds 3 baths ∙ 2,225 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,225 Sqft ∙ Built 2002
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,755
    • $0.79
    •  
  • 3725 Upland Drive Mcdonough, GA 3
    • 4 beds 4 baths ∙ 2,311 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,311 Sqft ∙ Built 2017
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.77
    •  
  • 3713 Upland Drive Mcdonough, GA 4
    • 4 beds 4 baths ∙ 2,340 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,340 Sqft ∙ Built 2017
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.76
    •  
  • 3741 Upland Drive Mcdonough, GA 5
    • 4 beds 4 baths ∙ 2,311 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,311 Sqft ∙ Built 2017
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.80
    •  
PROPERTY LISTING DETAILS
Thomas Margavio
1.404.312.9955
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6823218
Last Updated: 01/02/2021
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. © 2017 First Multiple Listing Service, Inc.

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