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248 Oakview Drive Canton, GA 30114

3 Beds 3 Baths 2,116 sqft Built 2017

$230,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $108.70
  • 10 Days on Market
  • MLS # : 6801599
  • Updated Date : 11/14/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,116 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Adorable end unit! Only 3yrs old! Open floor plan with views to the family room; walk-in panty, granite countertops & spacious kitchen island; half bath. Upstairs boasts large master bedroom with private balcony plus 2 add'l spare bedrooms & 1 full bath. Located in sought after River Green neighborhood with resort style amenities! HOLDING SHOWINGS UNTIL 11/13 due to seller putting finishing touches on home. Closing attorney to be Hartman Law, buyer to choose location.

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: Franklin Park at River Green

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $81k321k

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

Neighborhood: Franklin Park at River Green

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9162009

* 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
Knox Elementary School Primary Regular 770 44 7
Knox Elementary School Middle Regular 770 44 7
Cherokee High School High Regular 2,378 135 6

Knox Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 44
7
GreatSchools Rating

Knox Elementary School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 44
7
GreatSchools Rating

Cherokee High School

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

$207,000$253,000$230,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$849
Property Tax -$248
Property Insurance -$68
HOA -$195
Property Management Fees -$119
CASH FLOW
$162

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.

$230,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.71%

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$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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$25,714

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,762

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,6403$1,8004$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 248 Oakview Drive Canton, GA 2
    • 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.78
    •  
  • 202 Ranier Court Canton, GA 1
    • 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 2005
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.81
    •  
  • 302 Downing Creek Trail Canton, GA 3
    • 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2005
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 138 Market Lane Canton, GA 4
    • 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2004
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 154 N Gold Mill Place N Canton, GA 5
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2004
    LEASED 07/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.84
    •  
PROPERTY LISTING DETAILS
Carl Hawthorne Team
1.770.765.2828
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6801599
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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