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423 Norton Crossing Woodstock, GA 30188

4 Beds 3 Baths 1,788 sqft Built 2004

$265,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $148.21
  • 3 Days on Market
  • MLS # : 6805298
  • Updated Date : 11/08/2020 at 01:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,788 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Quaint community in Woodstock. Walkable or take the trolley to town center. This home will meet all your needs. Great room features a cozy fireplace with view to kitchen and fenced backyard. Bedrooms are large. Master is spacious. Neighborhood Pool and sidewalks. Great walking neighborhood.

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: Whitfield at Ridgewalk

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $103k253k

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

Neighborhood: Whitfield at Ridgewalk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9731715

* 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
Woodstock Elementary School Primary Regular 1,142 67 5
Woodstock Middle School Middle Regular 1,175 69 8
Woodstock High School High Regular 2,179 111 8

Woodstock Elementary School

  • Education Level: Primary
  • # of students: 1,142
  • # of teachers: 67
5
GreatSchools Rating

Woodstock Middle School

  • Education Level: Middle
  • # of students: 1,175
  • # of teachers: 69
8
GreatSchools Rating

Woodstock High School

  • Education Level: High
  • # of students: 2,179
  • # of teachers: 111
8
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$978
Property Tax -$216
Property Insurance -$62
HOA -$92
Property Management Fees -$119
CASH FLOW
$204

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.

$265,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$32,159

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,757

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6704$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 423 Norton Crossing Woodstock, GA 3
    • 4 beds 3 baths ∙ 1,788 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,788 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.93
    •  
  • 321 Tuggle Court Woodstock, GA 1
    • 4 beds 3 baths ∙ 1,568 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,568 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
  • 409 Norton Crossing Woodstock, GA 2
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2004
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
  • 120 Whitfield Way Woodstock, GA 4
    • 4 beds 3 baths ∙ 1,788 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,788 Sqft ∙ Built 2003
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 212 Ridge Valley Drive Woodstock, GA 5
    • 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 2020
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
PROPERTY LISTING DETAILS
Donna C Mentana
1.678.480.6256
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805298
Last Updated: 11/08/2020
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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