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300 Summerstone Court Canton, GA 30114

3 Beds 3 Baths 1,512 sqft Built 2000

$284,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $188.43
  • 6 Days on Market
  • MLS # : 6818446
  • Updated Date : 02/06/2021 at 08:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,512 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome home to this beautiful two Story Cottage on one of the largest corner lots in this section of the highly Sought after Bridgemill neighborhood! The open concept Floorplan showcases curved archways, a beautiful Rocked Gas Fireplace in Family Room, and a bright kitchen and dining room area. Upstairs, the Master Suite offers a Spacious Bathroom & Walk-In Closet alongside 2 Addt'l Bedrooms & jack & jill bath. Front and Backyard are flat and useable. Detached 2 Car Garage behind home has long flat driveway.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bridgemill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k362k

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

Neighborhood: Bridgemill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9732178

* 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
Sixes Elementary School Primary Regular 792 45 8
Freedom Middle School Middle Regular 1,119 65 9
Woodstock High School High Regular 2,179 111 8

Sixes Elementary School

  • Education Level: Primary
  • # of students: 792
  • # of teachers: 45
8
GreatSchools Rating

Freedom Middle School

  • Education Level: Middle
  • # of students: 1,119
  • # of teachers: 65
9
GreatSchools Rating

Woodstock High School

  • Education Level: High
  • # of students: 2,179
  • # of teachers: 111
8
GreatSchools Rating
 

$256,410$313,390$284,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$990
Property Tax -$232
Property Insurance -$56
HOA -$14
Property Management Fees -$119
CASH FLOW
$79

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.

$284,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.1%
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$16k

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$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$20,994

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,482

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4903$1,4954$1,500
$1,500
RENT COMPS ANALYSIS
  • 300 Summerstone Court Canton, GA 2
    • 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.99
    •  
  • 3077 Heatherbrook Trace Canton, GA 1
    • 3 beds 2 baths ∙ 1,499 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,499 Sqft ∙ Built 2001
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.95
    •  
  • 2052 Greenhill Pass Canton, GA 3
    • 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 2000
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.00
    •  
  • 3079 Heatherbrook Trace Canton, GA 4
    • 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 2001
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
PROPERTY LISTING DETAILS
Arielle Tilton
1.678.849.4250
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6818446
Last Updated: 02/06/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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