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257 Colony Center Drive Woodstock, GA 30188

3 Beds 2 Baths 1,587 sqft Built 1996

$265,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $166.98
  • 4 Days on Market
  • MLS # : 6802193
  • Updated Date : 11/02/2020 at 16:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,587 sqft
  • Baths : 2 full
Listing Agent's Description

Multiple offers. Highest & Best by 5p 11/2. Master on the Main Beauty in popular Westridge.Updated w/fresh paint & new flooring. Beautiful & durable waterproof LVP flooring on main level & new carpet where you want it, in the bedrooms! Two story fireside Great Room w/gas logs opens to the fabulous extra large Loft on second level perfect for media room, den, man cave or she shed, also could be the all new, ever popular home office or distance learning space! Lrg Bedrooms with walk in closets, overhead & updated lighting & ceiling fans. Private patio in fenced backyard.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9562009

* 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
Arnold Mill Elementary School Primary Regular 862 51 7
Mill Creek Middle School Middle Regular 1,284 72 7
River Ridge High School High Regular 1,601 88 8

Arnold Mill Elementary School

  • Education Level: Primary
  • # of students: 862
  • # of teachers: 51
7
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

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$978
Property Tax -$216
Property Insurance -$58
HOA -$38
Property Management Fees -$119
CASH FLOW
$52

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

$1,460

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$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 45% 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

6

YEARS SAVED

$21,029

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,543

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,4993$1,6504$1,7505$1,950
$1,950
RENT COMPS ANALYSIS
  • 257 Colony Center Drive Woodstock, GA 1
    • 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.92
    •  
  • 216 Parc View Lane Woodstock, GA 2
    • 3 beds 3 baths ∙ 1,528 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,528 Sqft ∙ Built 2006
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.98
    •  
  • 243 Colony Center Drive Woodstock, GA 3
    • 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 1996
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 100 Wiley Hills Trail Woodstock, GA 4
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2003
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
  • 4200 Nowata Drive Ne Roswell, GA 5
    • 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1985
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.02
    •  
PROPERTY LISTING DETAILS
Ruth N Swanson
1.678.414.3078
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6802193
Last Updated: 11/02/2020
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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