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605 Myers Gate Road Ball Ground, GA 30107

3 Beds 3 Baths 1,668 sqft Built 2009

$210,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $125.90
  • 6 Days on Market
  • MLS # : 6857393
  • Updated Date : 03/24/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,668 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful town home within walking distance to Downtown Ball Ground. This home has an open floor plan with 10ft ceilings on main level. Laminate hardwoods and hardwood steps. There is a one car garage with rear alley entry and driveway parking. Brand new roof. All exterior maintenance is done for you. Very quiet inside and out. Great school district and great proximity to 575. Canton is less than 10 minutes south and Jasper is just 10 minutes north. You will fall in love with this picture perfect home.

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

PRICE & RENT TRENDS

Neighborhood: Lantern Walk

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $103k235k

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

Neighborhood: Lantern Walk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9191530

* 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
Ball Ground Elementary School Stem Academy Primary Regular 569 33 7
Creekland Middle School Middle Regular 1,399 80 7
Creekview High School High Regular 1,828 98 8

Ball Ground Elementary School Stem Academy

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 33
7
GreatSchools Rating

Creekland Middle School

  • Education Level: Middle
  • # of students: 1,399
  • # of teachers: 80
7
GreatSchools Rating

Creekview High School

  • Education Level: High
  • # of students: 1,828
  • # of teachers: 98
8
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$729
Property Tax -$201
Property Insurance -$59
HOA -$105
Property Management Fees -$119
CASH FLOW
$246

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.

$210,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.0%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$29,080

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,635

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,7503$1,785
$1,785
RENT COMPS ANALYSIS
  • 605 Myers Gate Road Ball Ground, GA 1
    • 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.88
    •  
  • 201 Old Dawsonville Road Ball Ground, GA 2
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1990
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 165 Mount Moriah Road Ball Ground, GA 3
    • 4 beds 3 baths ∙ 1,803 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,803 Sqft ∙ Built 2013
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.99
    •  
PROPERTY LISTING DETAILS
David Pitts
1.770.778.5298
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6857393
Last Updated: 03/24/2021
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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