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359 Downing Creek Trail Canton, GA 30114

3 Beds 2 Baths 1,482 sqft Built 2004

$274,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $185.49
  • 5 Days on Market
  • MLS # : 6821434
  • Updated Date : 12/24/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,482 sqft
  • Baths : 2 full
Listing Agent's Description

The perfect Ranch home featuring great room with double sided fireplace, separate dining, large eat in kitchen with access to screen porch and extended patio into the large private fenced back yard. Hardwood floors through main living areas, large owners suite with walk in closet. Bonus area perfect for a small home office space. New Roof, New HVAC, New Dishwasher, New Water Heater, Exterior Recently Painted, interior just painted and a screen porch has been added too!

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Bridgemill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k362k

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

Neighborhood: Bridgemill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9732178

* 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
Liberty Elementary School Primary Regular 1,274 68 8
Freedom Middle School Middle Regular 1,119 65 9
Cherokee High School High Regular 2,378 135 6

Liberty Elementary School

  • Education Level: Primary
  • # of students: 1,274
  • # of teachers: 68
8
GreatSchools Rating

Freedom Middle School

  • Education Level: Middle
  • # of students: 1,119
  • # of teachers: 65
9
GreatSchools Rating

Cherokee High School

  • Education Level: High
  • # of students: 2,378
  • # of teachers: 135
6
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,014
Property Tax -$224
Property Insurance -$56
HOA -$15
Property Management Fees -$119
CASH FLOW
$172

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.

$274,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.1%
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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$34,663

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,463

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,6004$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 359 Downing Creek Trail Canton, GA 3
    • 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.08
    •  
  • 413 Ridgecrest Drive Canton, GA 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2015
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 355 Downing Creek Trail Canton, GA 2
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 2003
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
  • 1581 Larkwood Drive Canton, GA 4
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1985
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 329 Downing Creek Trail Canton, GA 5
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2004
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.04
    •  
PROPERTY LISTING DETAILS
Molly Mcgrory
1.770.596.6599
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6821434
Last Updated: 12/24/2020
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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