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3038 Lexington Avenue Woodstock, GA 30189

4 Beds 3 Baths 2,511 sqft Built 1996

$275,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $109.52
  • 2 Days on Market
  • MLS # : 6854695
  • Updated Date : 03/20/2021 at 20:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,511 sqft
  • Baths : 3 full
Listing Agent's Description

LOCATION LOCATION LOCATION! Towne Lake beauty close to Downtown Woodstock! Eat-in kitchen with hand-stained cabinets, granite countertops, stainless appliances (new fridge stays), and pantry. Kitchen opens to vaulted family room with stacked-stone fireplace. Master bedroom/ensuite plus two bedrooms and updated bath on main. Finished lower level with large bedroom and full bath (perfect in-law/teen suite) plus large bonus room/office. Two-car garage w/ workshop and storage space. Level, fenced backyard is perfect for entertaining! Huge back deck, newly expanded in 2020!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Centennial Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $103k258k

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

Neighborhood: Centennial Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9731719

* 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
Carmel Elementary School Primary Regular 1,190 67 8
Woodstock Middle School Middle Regular 1,175 69 8
Woodstock High School High Regular 2,179 111 8

Carmel Elementary School

  • Education Level: Primary
  • # of students: 1,190
  • # of teachers: 67
8
GreatSchools Rating

Woodstock Middle School

  • Education Level: Middle
  • # of students: 1,175
  • # of teachers: 69
8
GreatSchools Rating

Woodstock High School

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

$247,500$302,500$275,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$955
Property Tax -$237
Property Insurance -$76
HOA -$45
Property Management Fees -$119
CASH FLOW
$258

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.

$275,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 5.9%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$34,075

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,808

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,445
1$1,4452$1,6003$1,6904$1,8505$2,200
$2,200
RENT COMPS ANALYSIS
  • 3038 Lexington Avenue Woodstock, GA 3
    • 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.67
    •  
  • 702 Jamestown Place Woodstock, GA 1
    • 3 beds 2 baths ∙ 2,218 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,218 Sqft ∙ Built 1986
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.65
    •  
  • 142 Hartwood Drive Woodstock, GA 2
    • 4 beds 3 baths ∙ 2,283 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,283 Sqft ∙ Built 1994
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.70
    •  
  • 302 Wind Ship Court Woodstock, GA 4
    • 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 1996
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
  • 327 Ironhill Trace Woodstock, GA 5
    • 5 beds 3 baths ∙ 2,796 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,796 Sqft ∙ Built 1995
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
PROPERTY LISTING DETAILS
Shannon Griffin
1.470.557.5501
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6854695
Last Updated: 03/20/2021
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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