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315 Woodland Pass Canton, GA 30114

3 Beds 3 Baths 1,672 sqft Built 2004

$239,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $143.48
  • 5 Days on Market
  • MLS # : 6802722
  • Updated Date : 10/31/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,672 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Cute as a button home in sought after Creekside Prominence Subdivision. Easy to care for vinyl siding with rocking chair front porch. Brand new interior paint and floors! Large great room with gas log fireplace opens to breakfast area and kitchen with custom island. Stainless steel appliances. Cathedral ceiling in master suite. Walk in closet. Huge fenced backyard includes playset, trampoline, garden area and storage shed. Hot water heater only 2 yrs. old. Too good to be true at this price! Hurry; this will go fast!

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: Creekside at Prominence

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $103k267k

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

Neighborhood: Creekside at Prominence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9411681

* 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
Liberty Elementary School Primary Regular 1,274 68 8
Freedom Middle School Middle Regular 1,119 65 9
Cherokee High School High Regular 2,378 135 6

Liberty Elementary School

  • Education Level: Primary
  • # of students: 1,274
  • # of teachers: 68
8
GreatSchools Rating

Freedom Middle School

  • Education Level: Middle
  • # of students: 1,119
  • # of teachers: 65
9
GreatSchools Rating

Cherokee High School

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

$215,910$263,890$239,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$885
Property Tax -$245
Property Insurance -$59
HOA -$34
Property Management Fees -$119
CASH FLOW
$188

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.

$239,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.64%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$29,278

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,526

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,4503$1,5004$1,5305$1,650
$1,650
RENT COMPS ANALYSIS
  • 315 Woodland Pass Canton, GA 4
    • 3 beds 3 baths ∙ 1,672 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,672 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.92
    •  
  • 182 Ilex Drive Canton, GA 1
    • 3 beds 3 baths ∙ 1,608 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,608 Sqft ∙ Built 2003
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.84
    •  
  • 310 Pieris Drive Canton, GA 2
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2003
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 413 Ridgecrest Drive Canton, GA 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2015
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 125 Holly Mill Village Drive Canton, GA 5
    • 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2002
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jill Van Nuis
1.678.907.2074
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6802722
Last Updated: 10/31/2020
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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