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309 Morning Frost Canton, GA 30114

3 Beds 3 Baths 2,600 sqft Built 2015

$320,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $123.08
  • 7 Days on Market
  • MLS # : 6821081
  • Updated Date : 01/05/2021 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,600 sqft
  • Baths : 3 full
Listing Agent's Description

Built in 2015, this Canton two-story cul-de-sac home offers a patio, granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

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MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Starlight Climb at Great Sky

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $103k399k

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

Neighborhood: Starlight Climb at Great Sky

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9732481

* 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
Canton Elementary School Stem Academy Primary Regular 794 62 5
Teasley Middle School Middle Regular 1,423 94 6
Cherokee High School High Regular 2,378 135 6

Canton Elementary School Stem Academy

  • Education Level: Primary
  • # of students: 794
  • # of teachers: 62
5
GreatSchools Rating

Teasley Middle School

  • Education Level: Middle
  • # of students: 1,423
  • # of teachers: 94
6
GreatSchools Rating

Cherokee High School

  • Education Level: High
  • # of students: 2,378
  • # of teachers: 135
6
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,111
Property Tax -$408
Property Insurance -$77
HOA -$18
Property Management Fees -$119
CASH FLOW
$116

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.

$320,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.6%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$20,020

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,941

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7003$1,8504$2,000
$2,000
RENT COMPS ANALYSIS
  • 309 Morning Frost Canton, GA 3
    • 3 beds 3 baths ∙ 2,600 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,600 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
  • 213 Creek View Place Canton, GA 1
    • 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 2020
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.71
    •  
  • 217 Creek View Place Canton, GA 2
    • 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 2020
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.71
    •  
  • 113 Greenbrier Way Canton, GA 4
    • 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 2006
    LEASED 12/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6821081
Last Updated: 01/05/2021
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. © 2017 First Multiple Listing Service, Inc.

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