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313 Summerchase Lane Woodstock, GA 30189

4 Beds 3 Baths 2,166 sqft Built 1990

$329,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $152.31
  • 3 Days on Market
  • MLS # : 6805967
  • Updated Date : 11/07/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,166 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Gorgeous Towne Lake beauty w/amazing outdoor living space that cant be found in this price point.Stacked stone outdr fireplace,stone patio,fenced yrd,slate stone firepit area.2story grand family rm,updated kitchen w/tiled backsplash,granite counters,stainless appl,breakfast bar,built in desk &tons of light. Large dining rm &living rm w/french doors.Hardwds on main,updated half bath. Laundry upstairs. Spacious bedrms.Master suite w/his & hers closets, updated bathrm w/tiled shower, updated tiled floors.New water heater,new siding,new ext paint,new windows.Swim/tennis.

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: Summerchase at Towne Lake

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Summerchase at Towne Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Bascomb Elementary School Primary Regular 1,038 56 9
E.t. Booth Middle School Middle Regular 1,692 91 8
Etowah High School High Regular 2,411 125 8

Bascomb Elementary School

  • Education Level: Primary
  • # of students: 1,038
  • # of teachers: 56
9
GreatSchools Rating

E.t. Booth Middle School

  • Education Level: Middle
  • # of students: 1,692
  • # of teachers: 91
8
GreatSchools Rating

Etowah High School

  • Education Level: High
  • # of students: 2,411
  • # of teachers: 125
8
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,217
Property Tax -$269
Property Insurance -$69
HOA -$44
Property Management Fees -$119
CASH FLOW
-$88

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.

$329,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.4%
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

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,990

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,771

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6753$1,9254$1,9455$1,950
$1,950
RENT COMPS ANALYSIS
  • 313 Summerchase Lane Woodstock, GA 1
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.75
    •  
  • 1008 Atherton Lane Woodstock, GA 2
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1986
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.82
    •  
  • 408 Summerchase Way Woodstock, GA 3
    • 4 beds 3 baths ∙ 2,326 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,326 Sqft ∙ Built 1991
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.83
    •  
  • 1004 Atherton Lane Woodstock, GA 4
    • 3 beds 3 baths ∙ 2,335 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,335 Sqft ∙ Built 1985
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.83
    •  
  • 400 Mirramont Lane Woodstock, GA 5
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2001
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
PROPERTY LISTING DETAILS
Lindsey Haas
1.678.933.1962
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805967
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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