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6040 Pattingham Drive Roswell, GA 30075

3 Beds 3 Baths 2,232 sqft Built 1995

$354,900

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $159.01
  • 4 Days on Market
  • MLS # : 6814435
  • Updated Date : 12/05/2020 at 23:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,232 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Charming Two Story Home in the perfect Roswell LOCATION! Minutes to Downtown Roswell, 400, parks, shopping, library, restaurants, etc. Beautifully maintained and updated. All the major systems have been replaced..Cement Siding, New HVAC, Hardwood Floors on Main, Windows Replaced, Exterior Trim Painted 2018, Granite Countertops and Tile Floors in Kitchen and Master Bath, and Roof 2009. Two Story Greatroom with Fireplace, Formal Dining Room, Breakfast Area opens to Screen Porch with Tile Floor and Adjoining Deck. Private Fenced Backyard is Landscaped Beautifully.

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

Neighborhood: Camden Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k394k

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

Neighborhood: Camden Ridge

NeighborhoodNIR 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
Vickery Mill Elementary School Primary Regular NA
Elkins Pointe Middle School Middle Regular 1,125 88 6
Roswell High School High Regular 2,078 129 8

Vickery Mill Elementary School

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

Elkins Pointe Middle School

  • Education Level: Middle
  • # of students: 1,125
  • # of teachers: 88
6
GreatSchools Rating

Roswell High School

  • Education Level: High
  • # of students: 2,078
  • # of teachers: 129
8
GreatSchools Rating
 

$319,410$390,390$354,900

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,309
Property Tax -$313
Property Insurance -$70
HOA -$23
Property Management Fees -$119
CASH FLOW
$55

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.

$354,900

PROJECTED PRICE

$1,890

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.9%
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

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,799

INVESTMENT

$99,799

Down Payment
$88,725
Rehab Estimate
$5,750
Closing Costs
$5,324

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,309

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,725
Loan Amount $266,175
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$26,709

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,020

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8903$1,8954$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 6040 Pattingham Drive Roswell, GA 2
    • 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.85
    •  
  • 1075 Worthington Hills Drive Roswell, GA 1
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1978
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 280 Leasingworth Way Roswell, GA 3
    • 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 1995
    LEASED 07/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.87
    •  
  • 180 Crabtree Drive W Roswell, GA 4
    • 3 beds 2 baths ∙ 2,268 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,268 Sqft ∙ Built 1980
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 9655 Hillside Drive Roswell, GA 5
    • 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 1977
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
PROPERTY LISTING DETAILS
Deanie Moore
1.770.652.3657
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6814435
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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