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601 Market Place Ln Woodstock, GA 30188

3 Beds 3 Baths 1,804 sqft Built 2004

$247,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $136.92
  • 19 Days on Market
  • MLS # : 6801070
  • Updated Date : 10/29/2020 at 12:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,804 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Location, Location, Location!!! 2 Bed, 2 Bath, 1800 sq ft. Beautiful townhome! Corner unit with amazing chefs' kitchen with Quartz counter tops and backsplash. 2nd Floor has upgraded bathrooms and beautiful LVP flooring throughout. This unit could easily be the perfect roommate setup with both bedrooms having full bathrooms.

SEE MORE

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

Neighborhood: The Magnolias at Ridgewalk

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $95k253k

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

Neighborhood: The Magnolias at Ridgewalk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8931697

* 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
Woodstock Elementary School Primary Regular 1,142 67 5
Woodstock Middle School Middle Regular 1,175 69 8
Woodstock High School High Regular 2,179 111 8

Woodstock Elementary School

  • Education Level: Primary
  • # of students: 1,142
  • # of teachers: 67
5
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
 

$222,300$271,700$247,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$911
Property Tax -$187
Property Insurance -$62
HOA -$111
Property Management Fees -$119
CASH FLOW
$190

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.

$247,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,205

INVESTMENT

$71,205

Down Payment
$61,750
Rehab Estimate
$5,750
Closing Costs
$3,705

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$911

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,750
Loan Amount $185,250
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$29,473

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,768

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,6003$1,7604$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 601 Market Place Ln Woodstock, GA 1
    • 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.88
    •  
  • 409 Norton Crossing Woodstock, GA 2
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2004
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
  • 413 Towne Valley Drive Woodstock, GA 3
    • 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1998
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.98
    •  
  • 120 Whitfield Way Woodstock, GA 4
    • 4 beds 3 baths ∙ 1,788 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,788 Sqft ∙ Built 2003
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 212 Ridge Valley Drive Woodstock, GA 5
    • 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 2020
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
PROPERTY LISTING DETAILS
Scott Young
1.706.362.6339
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6801070
Last Updated: 10/29/2020
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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