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603 Savannah Way Woodstock, GA 30189

3 Beds 2 Baths 1,952 sqft Built 1985

$224,900

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $115.22
  • 5 Days on Market
  • MLS # : 6830529
  • Updated Date : 01/21/2021 at 14:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,952 sqft
  • Baths : 2 full
Listing Agent's Description

Spacious 3/2 Ranch in Woodstock conveniently located near Hwy 92 & Bells Ferry. Private front yard this home offers a family room w/stacked stone fire place w/gas logs & a 2nd family room for additional family tv time. Lots of natural sunlight in kitchen stained cabinets & small bistro nook & separate dining room w/new sliding glass door to beautiful deck. Spacious secondary bedrooms w/laminate flooring. Master is spacious w/master bath. Large laundry room w/lots of extra storage. 2Car garage w/newer insulated garage doors & an out building for extra storage.

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

PRICE & RENT TRENDS

Neighborhood: Savannah Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $82k253k

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

Neighborhood: Savannah Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8171697

* 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
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$781
Property Tax -$183
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$392

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.

$224,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.5%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$781

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

11.92

YEARS SAVED

$42,688

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,615

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,6003$1,7354$1,7955$1,900
$1,900
RENT COMPS ANALYSIS
  • 603 Savannah Way Woodstock, GA 1
    • 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.79
    •  
  • 142 Hartwood Drive Woodstock, GA 2
    • 4 beds 3 baths ∙ 2,283 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,283 Sqft ∙ Built 1994
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.70
    •  
  • 203 Chesapeake Lane Woodstock, GA 3
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1994
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.83
    •  
  • 417 Etowah Valley Way Woodstock, GA 4
    • 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 1992
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
  • 303 Chesapeake Ridge Woodstock, GA 5
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1995
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
PROPERTY LISTING DETAILS
Erin Romeo
1.770.851.5437
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6830529
Last Updated: 01/21/2021
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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