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330 Harmony Lake Drive Canton, GA 30115

4 Beds 3 Baths 2,808 sqft Built 2006

$395,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $140.67
  • 3 Days on Market
  • MLS # : 6817880
  • Updated Date : 12/11/2020 at 19:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,808 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Wonderful family home in sought after Harmony on the Lakes! Two story entry way welcomes you with hardwood floors flanked by a formal living and dining room with board & batten wall trim. Main level also provides a great office with custom built cabinets, half bath and spacious family room with gas fireplace and built ins. The gourmet granite kitchen is a Chef's delight including full size SS double ovens, large island, tiled backsplash walk-in corner pantry, and desk!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Harmony on The Lakes Southside

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Harmony on The Lakes Southside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Indian Knoll Elementary School Primary Regular 1,113 62 6
Dean Rusk Middle School Middle Regular 901 50 7
Sequoyah High School High Regular 1,715 93 8

Indian Knoll Elementary School

  • Education Level: Primary
  • # of students: 1,113
  • # of teachers: 62
6
GreatSchools Rating

Dean Rusk Middle School

  • Education Level: Middle
  • # of students: 901
  • # of teachers: 50
7
GreatSchools Rating

Sequoyah High School

  • Education Level: High
  • # of students: 1,715
  • # of teachers: 93
8
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,457
Property Tax -$382
Property Insurance -$101
HOA -$61
Property Management Fees -$119
CASH FLOW
$210

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.

$395,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.9%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$43,272

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $2,663

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,330
1$2,3302$2,500
$2,500
RENT COMPS ANALYSIS
  • 330 Harmony Lake Drive Canton, GA 1
    • 4 beds 3 baths ∙ 3,804 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,804 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.61
    •  
  • 312 Oak Meadow Drive Woodstock, GA 2
    • 5 beds 4 baths ∙ 3,550 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,550 Sqft ∙ Built 1998
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.70
    •  
PROPERTY LISTING DETAILS
Elizabeth Martin
1.678.373.9342
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6817880
Last Updated: 12/11/2020
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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