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5188 Ridge Tarn Acworth, GA 30102

4 Beds 4 Baths 2,400 sqft Built 1994

$325,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $135.42
  • 4 Days on Market
  • MLS # : 6857401
  • Updated Date : 03/26/2021 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,400 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Fantastic home located conveniently right off highway 92 in the desirable Lake Forrest community! This 4 bedroom, 3.5 bath home offers a large living space with hardwood floors throughout the main level! Newly renovated kitchen with stainless steel appliances, updated lighting fixtures, granite counter tops, and backsplash with under cabinet lighting and outlets. The dining room is perfect for everyday meals yet large enough to host those special holiday gatherings. The owners suite is oversized with double closets and private access to the porch. The owner's bath

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MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Neighborhood: Lake Forrest

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k228k

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

Neighborhood: Lake Forrest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7651603

* 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
Carmel Elementary School Primary Regular 1,190 67 8
Woodstock Middle School Middle Regular 1,175 69 8
Woodstock High School High Regular 2,179 111 8

Carmel Elementary School

  • Education Level: Primary
  • # of students: 1,190
  • # of teachers: 67
8
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,129
Property Tax -$265
Property Insurance -$74
HOA -$25
Property Management Fees -$119
CASH FLOW
$229

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.

$325,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.4%
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$200k$400k$600k$800k$1.0M$1.2M

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$33,074

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,992

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7753$1,8404$1,8405$1,995
$1,995
RENT COMPS ANALYSIS
  • 5188 Ridge Tarn Acworth, GA 4
    • 4 beds 4 baths ∙ 2,400 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,400 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.77
    •  
  • 4782 Shallow Ridge Road Ne Kennesaw, GA 1
    • 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1994
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 1502 Lake Koinonia Drive Woodstock, GA 2
    • 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 1986
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.84
    •  
  • 4851 Ridgewood Creek Drive Acworth, GA 3
    • 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 2005
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.74
    •  
  • 5202 Highland Trail Acworth, GA 5
    • 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1978
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.92
    •  
PROPERTY LISTING DETAILS
The Davenport Group
1.404.436.1607
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6857401
Last Updated: 03/26/2021
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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