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585 Camano Way Mcdonough, GA 30253

5 Beds 3 Baths 2,914 sqft Built 2014

$299,900

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $102.92
  • 6 Days on Market
  • MLS # : 6820896
  • Updated Date : 12/22/2020 at 19:06
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,914 sqft
  • Baths : 3 full
Listing Agent's Description

Don't miss this two story home in Annaberg! This home has been refreshed with new two-tone interior paint and new carpet. Formal living and dining rooms flank the entry and a family room with a fireplace is at the back of the home. The eat in kitchen features granite countertops and stainless steel appliances. One bedroom and full bathroom on the main floor, great for guests. The primary suite, three additional bedrooms, and another full bathroom as well as the laundry room located on the second floor. The spacious primary bedroom has a full ensuite bathroom with

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MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30253

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30253

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Flippen Elementary School Primary Regular 646 45 5
Eagle's Landing Middle School Middle Regular 987 55 5
Eagle's Landing High School High Regular 1,226 75 5

Flippen Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 45
5
GreatSchools Rating

Eagle's Landing Middle School

  • Education Level: Middle
  • # of students: 987
  • # of teachers: 55
5
GreatSchools Rating

Eagle's Landing High School

  • Education Level: High
  • # of students: 1,226
  • # of teachers: 75
5
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,107
Property Tax -$346
Property Insurance -$83
HOA -$50
Property Management Fees -$119
CASH FLOW
$345

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$2,050

PROJECTED RENT

0.68%

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) 8.00%
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$1.0M

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$41,974

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,040

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,635
1$1,6352$1,7003$2,0504$2,250
$2,250
RENT COMPS ANALYSIS
  • 585 Camano Way Mcdonough, GA 3
    • 5 beds 3 baths ∙ 2,914 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,914 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.70
    •  
  • 136 Janney Circle Mcdonough, GA 1
    • 5 beds 4 baths ∙ 2,593 Sqft ∙ Built 2007 5 beds 4 baths ∙ 2,593 Sqft ∙ Built 2007
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.63
    •  
  • 348 Winthrop Lane Mcdonough, GA 2
    • 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 2003
    property image
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.65
    •  
  • 111 Glen Eagle Way Mcdonough, GA 4
    • 4 beds 4 baths ∙ 2,734 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,734 Sqft ∙ Built 1994
    property image
    LEASED 09/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.82
    •  
PROPERTY LISTING DETAILS
Jacqueline Shaffer
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820896
Last Updated: 12/22/2020
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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