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474 Waterfront Drive Mcdonough, GA 30253

5 Beds 3 Baths 2,933 sqft Built 1997

$245,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $83.53
  • 7 Days on Market
  • MLS # : 6803631
  • Updated Date : 11/02/2020 at 18:10
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,933 sqft
  • Baths : 3 full
Listing Agent's Description

Exciting Lake front home! 5 bedroom, 3 bath. Newly remodeled kitchen with new appliances. Large master bedroom with French door entrance to master bath. Double vanity, garden tub and separate shower. Two additional bedrooms on the main with two bedrooms on second floor. Open floor plan for dining and entertaining. Hardwood floors throughout most of the home.

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: Autumn Lakes

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $82k218k

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

Neighborhood: Autumn Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8171649

* 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
Walnut Creek Elementary School Primary Regular 470 38 2
Henry County Middle School Middle Regular 789 49 3
Henry County High School High Regular 1,031 116 3

Walnut Creek Elementary School

  • Education Level: Primary
  • # of students: 470
  • # of teachers: 38
2
GreatSchools Rating

Henry County Middle School

  • Education Level: Middle
  • # of students: 789
  • # of teachers: 49
3
GreatSchools Rating

Henry County High School

  • Education Level: High
  • # of students: 1,031
  • # of teachers: 116
3
GreatSchools Rating
 

$220,500$269,500$245,000

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 -$904
Property Tax -$282
Property Insurance -$84
HOA -$17
Property Management Fees -$119
CASH FLOW
$264

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$245,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
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$900k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$32,031

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
  • $0.57

    LIST RENT PER SQFT
  • $1,686

    COMP ESTIMATED VALUE
  • $0.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6703$1,695
$1,695
RENT COMPS ANALYSIS
  • 474 Waterfront Drive Mcdonough, GA 2
    • 5 beds 3 baths ∙ 2,933 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,933 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.57
    •  
  • 600 Pipkin Drive Mcdonough, GA 1
    • 5 beds 3 baths ∙ 3,173 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,173 Sqft ∙ Built 2004
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.52
    •  
  • 561 Emporia Loop Mcdonough, GA 3
    • 4 beds 3 baths ∙ 2,694 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,694 Sqft ∙ Built 2017
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.63
    •  
PROPERTY LISTING DETAILS
Joseph Caudle
1.770.508.4878
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803631
Last Updated: 11/02/2020
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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