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606 Red Oak Court Canton, GA 30114

4 Beds 3 Baths 2,514 sqft Built 2003

$255,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $101.43
  • 3 Days on Market
  • MLS # : 6849635
  • Updated Date : 03/06/2021 at 11:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,514 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Hurry, this home will not last long. Great and convenient location less than 5 minutes to 575 and exit 14, close to shopping and dining. The property is located at the end of cul de sac and has a fenced-in backyard. This home has 4 spacious bedrooms, large and bright kitchen area, new roof (only 2 years old), it does need a little TLC (paint and carpet upstairs).

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)

PRICE & RENT TRENDS

Neighborhood: The View at Holly Mill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $103k267k

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

Neighborhood: The View at Holly Mill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9451681

* 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
Liberty Elementary School Primary Regular 1,274 68 8
Freedom Middle School Middle Regular 1,119 65 9
Cherokee High School High Regular 2,378 135 6

Liberty Elementary School

  • Education Level: Primary
  • # of students: 1,274
  • # of teachers: 68
8
GreatSchools Rating

Freedom Middle School

  • Education Level: Middle
  • # of students: 1,119
  • # of teachers: 65
9
GreatSchools Rating

Cherokee High School

  • Education Level: High
  • # of students: 2,378
  • # of teachers: 135
6
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$886
Property Tax -$260
Property Insurance -$76
HOA -$28
Property Management Fees -$119
CASH FLOW
$331

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.

$255,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.3%
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$5.0k$10k$15k$20k

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$40,914

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,829

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,685
1$1,6852$1,7003$1,7004$1,8005$2,035
$2,035
RENT COMPS ANALYSIS
  • 606 Red Oak Court Canton, GA 3
    • 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.68
    •  
  • 417 Little River Road Canton, GA 1
    • 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 2004
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.72
    •  
  • 508 Gardenview Road Canton, GA 2
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2014
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.68
    •  
  • 609 Stonehurst Lane Canton, GA 4
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2015
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.69
    •  
  • 300 Nobleman Way Canton, GA 5
    • 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 2007
    property image
    LEASED 03/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,035
    • $0.82
    •  
PROPERTY LISTING DETAILS
Natalia Hunter
1.678.835.8568
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6849635
Last Updated: 03/06/2021
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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