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328 Scarlett Lane Woodstock, GA 30188

4 Beds 2 Baths 1,888 sqft Built 1984

$289,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $153.07
  • 4 Days on Market
  • MLS # : 6833718
  • Updated Date : 01/30/2021 at 15:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,888 sqft
  • Baths : 2 full
Listing Agent's Description

Move right in! Popular Woodstock Schools - River Ridge HS! Over half acre on culdesac with no HOA & beautiful sunsets. Conv to 75/575, 5 minutes to downtown Woodstock & conv to parks, Roswell/Alpharetta. Just rehabbed w fresh paint, new granite/backsplash in kitchen, refinished family room floors. Large fireplace, newer lights, etc. All wood & tile on main floor. Huge garage, rocking chair front porch, large backyard. 4th large finished room on lower level could be xtra bedroom or office. Plenty of space to finish an extra 800+ lower level for xtra bath/living room.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (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).
  • 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 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: Southern Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Southern Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8392009

* 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
Arnold Mill Elementary School Primary Regular 862 51 7
Mill Creek Middle School Middle Regular 1,284 72 7
River Ridge High School High Regular 1,601 88 8

Arnold Mill Elementary School

  • Education Level: Primary
  • # of students: 862
  • # of teachers: 51
7
GreatSchools Rating

Mill Creek Middle School

  • Education Level: Middle
  • # of students: 1,284
  • # of teachers: 72
7
GreatSchools Rating

River Ridge High School

  • Education Level: High
  • # of students: 1,601
  • # of teachers: 88
8
GreatSchools Rating
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,004
Property Tax -$236
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$68

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.

$289,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.9%
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-$2.0k$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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$20,396

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,525

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,385
1$1,3852$1,4503$1,4904$1,5005$1,750
$1,750
RENT COMPS ANALYSIS
  • 328 Scarlett Lane Woodstock, GA 3
    • 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.79
    •  
  • 401 Pilgrim Court Woodstock, GA 1
    • 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1976
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $0.78
    •  
  • 603 Butler Court Woodstock, GA 2
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 1984
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
  • 406 Waterfront Court Woodstock, GA 4
    • 4 beds 2 baths ∙ 1,698 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,698 Sqft ∙ Built 1975
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 1078 River Plantation Drive Woodstock, GA 5
    • 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1999
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
PROPERTY LISTING DETAILS
Robert Cote
1.678.770.9493
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6833718
Last Updated: 01/30/2021
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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