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4799 Erie Court Nw Acworth, GA 30102

3 Beds 3 Baths 1,680 sqft Built 1984

$260,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $154.76
  • 2 Days on Market
  • MLS # : 6805461
  • Updated Date : 11/07/2020 at 12:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 3 full
Listing Agent's Description

This corner lot raised ranch is located less than 300ft of adjoining Chestnut Hill Subdivision! Feat large bright kitchen with lots of cabinet/storage space! Oversized master and Livingroom feature bay windows. Lrg sep dining room leads to sunroom with a deck outside it for entertaining! Finished basement gives you 3 add lrg bonus rooms and wet bar. Two of which can be used as add bedrms to total 5 beds!. Lrg two car garage with work space. Cul-de-sac lot with beautiful private fenced in yard incl. two decks and stoned level sitting area - very pretty!

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: Wade Green Station

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k321k

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

Neighborhood: Wade Green Station

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7952009

* 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
Pitner Elementary School Primary Regular 868 66 6
Palmer Middle School Middle Regular 1,030 56 9
Kell High School High Regular 1,548 83 7

Pitner Elementary School

  • Education Level: Primary
  • # of students: 868
  • # of teachers: 66
6
GreatSchools Rating

Palmer Middle School

  • Education Level: Middle
  • # of students: 1,030
  • # of teachers: 56
9
GreatSchools Rating

Kell High School

  • Education Level: High
  • # of students: 1,548
  • # of teachers: 83
7
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$959
Property Tax -$287
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$255

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.

$260,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.4%
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$20k

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$42,407

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,651

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5253$1,6754$1,6755$1,680
$1,680
RENT COMPS ANALYSIS
  • 4799 Erie Court Nw Acworth, GA 5
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.00
    •  
  • 1200 Wade Green Circle Nw Acworth, GA 1
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1986
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.90
    •  
  • 1339 Colonial Trace Nw Acworth, GA 2
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1986
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.92
    •  
  • 802 Moonlit Lane Nw Acworth, GA 3
    • 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1985
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.06
    •  
  • 4798 Southern Court Nw Acworth, GA 4
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1984
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.05
    •  
PROPERTY LISTING DETAILS
Dee Mathewson
1.770.696.3564
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805461
Last Updated: 11/07/2020
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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