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3242 Elwin Ragsdale Way Acworth, GA 30102

3 Beds 2 Baths 1,180 sqft Built 1986

$195,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $165.25
  • 4 Days on Market
  • MLS # : 6803702
  • Updated Date : 11/13/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,180 sqft
  • Baths : 2 full
Listing Agent's Description

Excellent first home or investment opportunity in Southwest Cherokee County! This 3 bed, 2 bath ranch home over a basement is nestled on a full, private acre. No HOA! Roof is 10 years old, AC is 7 years old, septic serviced in 2019, new water heater in 2019.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: McCollum Acres

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $84k228k

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

Neighborhood: McCollum Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7431603

* 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
Clark Creek Elementary School Stem Academy Primary Unknown 974 60 NA
E.t. Booth Middle School Middle Regular 1,692 91 8
Etowah High School High Regular 2,411 125 8

Clark Creek Elementary School Stem Academy

  • Education Level: Primary
  • # of students: 974
  • # of teachers: 60
NA
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
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$719
Property Tax -$159
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$183

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.

$195,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$28,945

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,233

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,3253$1,3504$1,5255$1,550
$1,550
RENT COMPS ANALYSIS
  • 3242 Elwin Ragsdale Way Acworth, GA 1
    • 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.04
    •  
  • 6252 New Mill Trail Acworth, GA 2
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1993
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.98
    •  
  • 217 Oak Grove Way Acworth, GA 3
    • 3 beds 3 baths ∙ 1,260 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,260 Sqft ∙ Built 2000
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.07
    •  
  • 2341 Westland Way Acworth, GA 4
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1992
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.05
    •  
  • 5554 Emerald Way Acworth, GA 5
    • 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 1988
    LEASED 06/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.08
    •  
PROPERTY LISTING DETAILS
Clayton Davis
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803702
Last Updated: 11/13/2020
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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