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3256 Stonewall Drive Nw Kennesaw, GA 30152

3 Beds 2 Baths 1,225 sqft Built 1981

$230,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $187.76
  • 6 Days on Market
  • MLS # : 6824318
  • Updated Date : 01/06/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,225 sqft
  • Baths : 2 full
Listing Agent's Description

Cute 3/2 ranch on a quarter acre lot. Inviting open concept floor plan with vaulted family room ceiling, breakfast area and kitchen. Master Suite has direct deck access. Private flat backyard has plenty of room for kids and dogs to play, planting a garden or just enjoying the outdoor space. The spacious deck is the perfect space for entertaining friends and family. The crawl space is tall enough to stand up in and is great for storage.

SEE MORE

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: 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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$799
Property Tax -$203
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$128

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.

$230,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.57%

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

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$22,705

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,155

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,3954$1,4005$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
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.06
    •  
  • 2845 Appling Way Kennesaw, GA 2
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1985
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
  • 3171 Justice Mill Court Kennesaw, GA 3
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 2000
    property image
    LEASED 07/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.93
    •  
  • 3372 Tia Trace Nw Kennesaw, GA 4
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1988
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 8080 Sumit Creek Drive Kennesaw, GA 5
    • 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 1984
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.95
    •  
PROPERTY LISTING DETAILS
Lisa Swann
1.678.895.7478
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6824318
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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