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505 Mill Ridge Road Woodstock, GA 30188

3 Beds 3 Baths 2,221 sqft Built 2013

$309,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $139.53
  • 3 Days on Market
  • MLS # : 6849512
  • Updated Date : 03/06/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,221 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Absolutely charming home conveniently located just minutes from downtown Woodstock, I-575 & Express Lane, Hospitals, Shopping & amazing Restaurants! The spacious open floor plan & custom landscaped, fenced in backyard is perfect for entertaining. The kitchen includes a large island, granite countertops, eat-in breakfast area that opens to the roomy living room! Large master suite w/double vanity master bath with a very generous walk-in closet, garden tub & separate shower! Amazing loft that can be used for a home office, media room or enclose it for a 4th bedroom!

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Glen at River Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: The Glen at River Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9562009

* 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
 

$278,910$340,890$309,900

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 -$1,076
Property Tax -$224
Property Insurance -$79
HOA -$85
Property Management Fees -$119
CASH FLOW
$87

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.

$309,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,076

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$21,983

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
  • $0.62

    LIST RENT PER SQFT
  • $1,840

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,6953$1,7454$1,900
$1,900
RENT COMPS ANALYSIS
  • 505 Mill Ridge Road Woodstock, GA 1
    • 3 beds 3 baths ∙ 2,692 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,692 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.62
    •  
  • 546 Keeneland Avenue Woodstock, GA 2
    • 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 2002
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.72
    •  
  • 703 Barberry Drive Woodstock, GA 3
    • 4 beds 4 baths ∙ 2,592 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,592 Sqft ∙ Built 2014
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.67
    •  
  • 400 Towne Valley Drive Woodstock, GA 4
    • 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 1998
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.66
    •  
PROPERTY LISTING DETAILS
Olivia Ott
1.770.846.5422
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6849512
Last Updated: 03/06/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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