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305 Wavetree Drive Roswell, GA 30075

4 Beds 3 Baths 2,344 sqft Built 1972

$475,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $202.65
  • 5 Days on Market
  • MLS # : 6854746
  • Updated Date : 03/20/2021 at 10:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,344 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome to this PICTURE PERFECT designer home that is one mile from Roswell's Canton Street, just a short walk to elementary school...and wooded backyard BORDERS Roswell Area Park! Beautiful hardwood floors throughout and double wide staircase welcome you upon entry. Fabulous renovated kitchen with custom cabinetry, 11' island, quartz counters and wine bar is the heart of this home. Separate living room; cozy fireside family room opens to huge screened porch and covered deck. 3 sets of French doors on back, new interior doors and front door.

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: Greenway Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k394k

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

Neighborhood: Greenway Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100220023002400Rent in $9732417

* 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
Roswell North Elementary School Primary Regular 1,020 65 7
Crabapple Middle School Middle Regular 950 69 7
Roswell High School High Regular 2,078 129 8

Roswell North Elementary School

  • Education Level: Primary
  • # of students: 1,020
  • # of teachers: 65
7
GreatSchools Rating

Crabapple Middle School

  • Education Level: Middle
  • # of students: 950
  • # of teachers: 69
7
GreatSchools Rating

Roswell High School

  • Education Level: High
  • # of students: 2,078
  • # of teachers: 129
8
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,650
Property Tax -$375
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$83

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.

$475,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.9%
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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$31,316

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,508

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,5004$2,600
$2,600
RENT COMPS ANALYSIS
  • 305 Wavetree Drive Roswell, GA 1
    • 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
  • 105 Wavetree Drive Roswell, GA 2
    • 3 beds 3 baths ∙ 2,364 Sqft ∙ Built 1965 3 beds 3 baths ∙ 2,364 Sqft ∙ Built 1965
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.99
    •  
  • 1140 Falstaff Drive Roswell, GA 3
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1970
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.14
    •  
  • 250 Wavetree Drive Roswell, GA 4
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1963 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1963
    LEASED 03/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.08
    •  
PROPERTY LISTING DETAILS
Arthur R Worley
1.678.596.8911
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6854746
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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