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3256 Stonewall Drive Nw Kennesaw, GA 30152

3 Beds 2 Baths 1,225 sqft Built 1981

$219,500

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $179.18
  • 4 Days on Market
  • MLS # : 6831093
  • Updated Date : 01/22/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,225 sqft
  • Baths : 2 full
Listing Agent's Description

This adorable 3 bed, 2 full bath, ranch style, open concept home with fenced in back yard on over 1/3 of an acre lot will not last long! Large back deck with access from the kitchen or master bedroom, great for entertaining with not one but two sets of stairs that lead you down to the large fully fenced in back yard area great for gardening, sitting by the firepit or just for play! This home offers a galley kitchen with beautiful granite breakfast bar, adjacent to eat-in dining area which opens up into the family room with vaulted ceilings!

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)
  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (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)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Neighborhood: Country Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $85k321k

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

Neighborhood: Country Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7432009

* 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
Lewis Elementary School Primary Regular 704 52 6
Mcclure Middle School Middle Regular 1,119 64 8
Allatoona High School High Regular 1,820 93 9

Lewis Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 52
6
GreatSchools Rating

Mcclure Middle School

  • Education Level: Middle
  • # of students: 1,119
  • # of teachers: 64
8
GreatSchools Rating

Allatoona High School

  • Education Level: High
  • # of students: 1,820
  • # of teachers: 93
9
GreatSchools Rating
 

$197,550$241,450$219,500

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$762
Property Tax -$194
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$194

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.

$219,500

PROJECTED PRICE

$1,320

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,918

INVESTMENT

$63,918

Down Payment
$54,875
Rehab Estimate
$5,750
Closing Costs
$3,293

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$762

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,875
Loan Amount $164,625
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$28,988

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,160

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3503$1,4004$1,425
$1,425
RENT COMPS ANALYSIS
  • 3256 Stonewall Drive Nw Kennesaw, GA 1
    • 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.08
    •  
  • 2845 Appling Way Kennesaw, GA 2
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1985
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
  • 3372 Tia Trace Nw Kennesaw, GA 3
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1988
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 8080 Sumit Creek Drive Kennesaw, GA 4
    • 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 1984
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.95
    •  
PROPERTY LISTING DETAILS
Crystal Mikos
1.770.846.1771
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831093
Last Updated: 01/22/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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