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550 Kingsport Drive Roswell, GA 30076

4 Beds 3 Baths 2,432 sqft Built 1998

$400,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $164.47
  • 4 Days on Market
  • MLS # : 6841792
  • Updated Date : 02/19/2021 at 17:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,432 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Awesome Location! Award Winning Schools! On your mark, get set, RUN to this charming 4 bedroom 2 1/2 bath home on a flat corner lot in the sought after Kingsport subdivision. Updates include hardwoods throughout main level, stainless steel range, powder room vanity, white kitchen cabinetry and garage doors with High R Rating. Open floorplan with kitchen overlooking cozy family room. There is room to spread out on main level with separate living room and dining room.

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

Zip Code: 30076

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k394k

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

Zip Code: 30076

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100220023002400Rent in $9732417

* 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
Hembree Springs Elementary School Primary Regular 826 65 7
Northwestern Middle School Middle Regular 1,332 92 8
Milton High School High Regular 2,021 110 8

Hembree Springs Elementary School

  • Education Level: Primary
  • # of students: 826
  • # of teachers: 65
7
GreatSchools Rating

Northwestern Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 92
8
GreatSchools Rating

Milton High School

  • Education Level: High
  • # of students: 2,021
  • # of teachers: 110
8
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,389
Property Tax -$321
Property Insurance -$74
HOA -$17
Property Management Fees -$119
CASH FLOW
$299

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.

$400,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.6%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$48,297

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,298

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1753$2,2204$2,4955$2,600
$2,600
RENT COMPS ANALYSIS
  • 550 Kingsport Drive Roswell, GA 3
    • 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.91
    •  
  • 140 Quay Circle Alpharetta, GA 1
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1999
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.83
    •  
  • 12135 Wallace Woods Lane Alpharetta, GA 2
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1989
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.91
    •  
  • 510 Kingsport Drive Roswell, GA 4
    • 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 1998
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.01
    •  
  • 11920 Stradford Wood Road Roswell, GA 5
    • 5 beds 4 baths ∙ 2,516 Sqft ∙ Built 1993 5 beds 4 baths ∙ 2,516 Sqft ∙ Built 1993
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
PROPERTY LISTING DETAILS
Leslie Hawkins
1.770.855.1489
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6841792
Last Updated: 02/19/2021
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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