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508 Riverview Lane Canton, GA 30114

2 Beds 2 Baths 1,357 sqft Built 2018

$239,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $176.79
  • 5 Days on Market
  • MLS # : 6808251
  • Updated Date : 11/13/2020 at 08:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,357 sqft
  • Baths : 2 full
Listing Agent's Description

Worry Free Living at it's Finest! This Beautiful Craftsman Ranch Home offers 2 spacious bedrooms, 2 baths, granite countertops, center island, pantry, huge walk-in closet, screened in back patio, private fenced in back yard with a beautiful vinyl fence. Refrigerator, Stove, Dishwasher, Microwave, Washer and Dryer all included, Conventionally located within walking distance to shopping and dining, easy access to I-575, Adult Living 55+ Community.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Villages at River Pointe

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $64k267k

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

Neighborhood: Villages at River Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500155016001650Rent in $9731681

* 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
Hasty Elementary School Fine Arts Academy Primary Regular 894 76 4
Teasley Middle School Middle Regular 1,423 94 6
Cherokee High School High Regular 2,378 135 6

Hasty Elementary School Fine Arts Academy

  • Education Level: Primary
  • # of students: 894
  • # of teachers: 76
4
GreatSchools Rating

Teasley Middle School

  • Education Level: Middle
  • # of students: 1,423
  • # of teachers: 94
6
GreatSchools Rating

Cherokee High School

  • Education Level: High
  • # of students: 2,378
  • # of teachers: 135
6
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$885
Property Tax -$251
Property Insurance -$53
HOA -$195
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.

$239,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$16,068

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,506

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,590
$1,590
RENT COMPS ANALYSIS
  • 508 Riverview Lane Canton, GA 2
    • 2 beds 2 baths ∙ 1,357 Sqft ∙ Built 2018 2 beds 2 baths ∙ 1,357 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.17
    •  
  • 509 Riverview Lane Canton, GA 1
    • 2 beds 2 baths ∙ 1,356 Sqft ∙ Built 2017 2 beds 2 baths ∙ 1,356 Sqft ∙ Built 2017
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.11
    •  
PROPERTY LISTING DETAILS
Gaylene Gleason
1.678.230.5098
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808251
Last Updated: 11/13/2020
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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