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508 Gregs Place Mcdonough, GA 30253

4 Beds 3 Baths 2,759 sqft Built 2021

$321,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $116.67
  • 13 Days on Market
  • MLS # : 6822555
  • Updated Date : 01/06/2021 at 12:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,759 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

The Stratford Plan built by Heatherland Homes. Walking in this beautiful 4-sided brick home you will notice a living/dining room combo with a open kitchen that includes stainless steel appliances such as a double oven, dishwasher, microwave and range cook top surrounded by custom cabinetry overlooking the great/family room with a cozy fire place. This home also features wood flooring on the main level and so much more! *Secondary photos are file photos*

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: The Estates at Cameron Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $82k275k

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

Neighborhood: The Estates at Cameron Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8171650

* 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
 

$289,710$354,090$321,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,118
Property Tax -$389
Property Insurance -$80
HOA -$125
Property Management Fees -$119
CASH FLOW
-$192

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$321,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.51%

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) 3.00%
Vacancy 8.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$87,304

INVESTMENT

$87,304

Down Payment
$80,475
Rehab Estimate
$2,000
Closing Costs
$4,829

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,118

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,475
Loan Amount $241,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$947

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $1,876

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,825
$1,825
RENT COMPS ANALYSIS
  • 508 Gregs Place Mcdonough, GA 1
    • 4 beds 3 baths ∙ 2,759 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,759 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.59
    •  
  • 461 Best Friends Turn Alley Mcdonough, GA 2
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2017
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.68
    •  
PROPERTY LISTING DETAILS
Tamra Wade
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6822555
Last Updated: 01/06/2021
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. © 2017 First Multiple Listing Service, Inc.

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