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314 Homestead Circle Nw Kennesaw, GA 30144

4 Beds 3 Baths 2,584 sqft Built 1985

$300,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $116.10
  • 7 Days on Market
  • MLS # : 6823677
  • Updated Date : 01/06/2021 at 11:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,584 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Charming and spacious brick front home in Kennesaw. This home has been beautifully updated with granite countertops in all the bathrooms and kitchen, a new stainless steel dishwasher, and new faucets and fixtures. The carpeting is brand new and the home has fresh interior paint. The oversized master bedroom can easily fit a sitting area and the additional three bedrooms are of generous size as well. Dual vanities in both full bathrooms and a walk-in shower and a shower/tub combo in the master bathroom will make getting ready in the morning a breeze.

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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: Dunmovin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Dunmovin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9022009

* 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
Chalker Elementary School Primary Regular 668 45 8
Palmer Middle School Middle Regular 1,030 56 9
Kell High School High Regular 1,548 83 7

Chalker Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 45
8
GreatSchools Rating

Palmer Middle School

  • Education Level: Middle
  • # of students: 1,030
  • # of teachers: 56
9
GreatSchools Rating

Kell High School

  • Education Level: High
  • # of students: 1,548
  • # of teachers: 83
7
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,042
Property Tax -$265
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$287

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.

$300,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.0%
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$20k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$42,314

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,777

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,7504$1,7905$1,840
$1,840
RENT COMPS ANALYSIS
  • 314 Homestead Circle Nw Kennesaw, GA 4
    • 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.69
    •  
  • 468 Bottesford Drive Nw Kennesaw, GA 1
    • 3 beds 3 baths ∙ 2,504 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,504 Sqft ∙ Built 1995
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.64
    •  
  • 4127 Cripple Creek Way Nw Kennesaw, GA 2
    • 4 beds 3 baths ∙ 2,505 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,505 Sqft ∙ Built 1988
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.66
    •  
  • 330 Homestead Circle Kennesaw, GA 3
    • 5 beds 3 baths ∙ 2,414 Sqft ∙ Built 1985 5 beds 3 baths ∙ 2,414 Sqft ∙ Built 1985
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.72
    •  
  • 416 Bottesford Drive Nw Kennesaw, GA 5
    • 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 1997
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.73
    •  
PROPERTY LISTING DETAILS
Kristin Allen
1.770.500.7503
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6823677
Last Updated: 01/06/2021
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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