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6038 Old Bascomb Road Acworth, GA 30102

3 Beds 3 Baths 2,223 sqft Built 1969

$260,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $116.96
  • 3 Days on Market
  • MLS # : 6815656
  • Updated Date : 12/05/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,223 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Amazing Investment! Great Opportunity to own this 3BR, 2.5BA home on a .8 acre lot. Home sits between two lots that are also available for purchase. Lot 1 (between the street and house) is .58 acres and Lot 3 (just past the house) is .74 acres. [See Survey in pictures for more details.] Brick and Vinyl with NEW roof on exterior and many upgrades throughout the interior including NEW appliances, NEW Kitchen cabinets, NEW flooring (antiques hardwoods are underneath), NEW HVAC & NEW Water Heater, NEW Windows, NEW Paint.

SEE MORE

MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • 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)
  • 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30102

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k228k

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

Zip Code: 30102

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8021603

* 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
Clark Creek Elementary School Stem Academy Primary Unknown 974 60 NA
E.t. Booth Middle School Middle Regular 1,692 91 8
Etowah High School High Regular 2,411 125 8

Clark Creek Elementary School Stem Academy

  • Education Level: Primary
  • # of students: 974
  • # of teachers: 60
NA
GreatSchools Rating

E.t. Booth Middle School

  • Education Level: Middle
  • # of students: 1,692
  • # of teachers: 91
8
GreatSchools Rating

Etowah High School

  • Education Level: High
  • # of students: 2,411
  • # of teachers: 125
8
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$959
Property Tax -$212
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$60

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.

$260,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

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

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$18,906

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,728

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,4253$1,5804$1,6755$1,945
$1,945
RENT COMPS ANALYSIS
  • 6038 Old Bascomb Road Acworth, GA 1
    • 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 1969 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.64
    •  
  • 5721 Crestview Drive Acworth, GA 2
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1971 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1971
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.71
    •  
  • 5529 Blackhawk Drive Acworth, GA 3
    • 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 1977
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.75
    •  
  • 1008 Atherton Lane Woodstock, GA 4
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1986
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.82
    •  
  • 1004 Atherton Lane Woodstock, GA 5
    • 3 beds 3 baths ∙ 2,335 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,335 Sqft ∙ Built 1985
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.83
    •  
PROPERTY LISTING DETAILS
The Hester Group
1.404.495.8392
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815656
Last Updated: 12/05/2020
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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