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3030 Quarles Drive Canton, GA 30115

4 Beds 3 Baths 2,320 sqft Built 1991

$295,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $127.16
  • 2 Days on Market
  • MLS # : 6805739
  • Updated Date : 11/07/2020 at 20:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,320 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Southern charm! Welcoming winding driveway leads to this beautiful 2 story home in the heart of Hickory Flat! Beautiful private lot. Rocking chair front porch welcomes family and friends alike. This spacious home boasts 4 bedrooms, formal living room, separate dining room and nice family room with wood-burning fireplace. This private home is near shopping, restaurants and award winning schools.

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: Hickory Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $103k297k

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

Neighborhood: Hickory Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9731839

* 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
Hickory Flat Elementary School Primary Regular 550 33 9
Hickory Flat Elementary School Middle Regular 550 33 9
Sequoyah High School High Regular 1,715 93 8

Hickory Flat Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 33
9
GreatSchools Rating

Hickory Flat Elementary School

  • Education Level: Middle
  • # of students: 550
  • # of teachers: 33
9
GreatSchools Rating

Sequoyah High School

  • Education Level: High
  • # of students: 1,715
  • # of teachers: 93
8
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,088
Property Tax -$241
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$310

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.

$295,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.0%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$49,004

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,798

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8303$1,995
$1,995
RENT COMPS ANALYSIS
  • 3030 Quarles Drive Canton, GA 2
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.79
    •  
  • 213 Park Creek Drive Woodstock, GA 1
    • 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2000
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.67
    •  
  • 1057 Middlebrooke Drive Canton, GA 3
    • 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 2004
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.88
    •  
PROPERTY LISTING DETAILS
Joanne Drake
1.678.437.3514
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805739
Last Updated: 11/07/2020
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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