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3020 Lake Park Court Acworth, GA 30101

4 Beds 3 Baths 2,374 sqft Built 1998

$267,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $112.47
  • 3 Days on Market
  • MLS # : 6811623
  • Updated Date : 11/21/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,374 sqft
  • Baths : 3 full
Listing Agent's Description

Rare opportunity, this beautiful 4 bdr, 3 full bath, on a huge corner lot w/gorgeous lake views!! NEW HVAC, NEW hot water heater, NEW int paint, and NEW flooring in kitchen. 2yr roof and ext paint. Offers open concept family room, dining room, & kitchen. Large fenced backyard, entertainers dream, over-sized deck 3yrs old. Large master suite w/ walk-in closet & 2 secondary bdr on main level. Finished lower level w/ family room/playroom, Bedroom w/ walk-in closet and full ba. Finished bonus room located off the garage. Walking distance to pool at the end of cul-de-sac!

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)
  • 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 has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (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)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Neighborhood: Lake Park

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k228k

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

Neighborhood: Lake Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8061603

* 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
Acworth Intermediate School Primary Regular 744 58 5
Barber Middle School Middle Regular 959 56 7
North Cobb High School High Regular 2,856 143 7

Acworth Intermediate School

  • Education Level: Primary
  • # of students: 744
  • # of teachers: 58
5
GreatSchools Rating

Barber Middle School

  • Education Level: Middle
  • # of students: 959
  • # of teachers: 56
7
GreatSchools Rating

North Cobb High School

  • Education Level: High
  • # of students: 2,856
  • # of teachers: 143
7
GreatSchools Rating
 

$240,300$293,700$267,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$985
Property Tax -$295
Property Insurance -$73
HOA -$45
Property Management Fees -$119
CASH FLOW
$143

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.

$267,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.0%
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

PROJECTED ANNUAL CASH FLOW

11530$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$76,505

INVESTMENT

$76,505

Down Payment
$66,750
Rehab Estimate
$5,750
Closing Costs
$4,005

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$985

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,750
Loan Amount $200,250
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$24,813

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,709

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6004$1,6605$1,785
$1,785
RENT COMPS ANALYSIS
  • 3020 Lake Park Court Acworth, GA 4
    • 4 beds 3 baths ∙ 2,374 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,374 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.70
    •  
  • 3103 Quince Tree Way Nw Acworth, GA 1
    • 4 beds 3 baths ∙ 2,265 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,265 Sqft ∙ Built 2000
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.68
    •  
  • 3826 Rivers Run Trace Nw Acworth, GA 2
    • 4 beds 3 baths ∙ 2,295 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,295 Sqft ∙ Built 1997
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.70
    •  
  • 4528 Baker Grove Road Nw Acworth, GA 3
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1999
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 3109 Bridgewalk Trail Acworth, GA 5
    • 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 2003
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.77
    •  
PROPERTY LISTING DETAILS
Kristen Schnakenberg
1.678.478.9426
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6811623
Last Updated: 11/21/2020
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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