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611 Colony Court Woodstock, GA 30188

3 Beds 2 Baths 1,816 sqft Built 1980

INVESTimate

$275,000

List Price

$1,620

$1,458 - $1,782

Rent Est.

$293,865  ( +6.86%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $151.43
  • 7 Days on Market
  • MLS # : 6757056
  • Updated Date : 08/21/2020 at 13:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,816 sqft
  • Baths : 2 full
Listing Agent's Description

Hard to find move in ready home with pool located just minutes to Downtown Woodstock is a must see!! This Cape Cod offers a covered front porch and appealing open floor plan. Living room with fireplace flows to the dining area and kitchen with white cabinets and stainless steel appliances. Master bedroom located on the main level and updated master bath. Upper level offers 2 good sized bedrooms and full bath. Finished bonus room located on the lower level would make a great private office. Spacious two car garage with ample storage. You will love the outdoor space that

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Colony Woods

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Colony Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052009

* 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
Johnston Elementary School Primary Regular 584 36 7
Mill Creek Middle School Middle Regular 1,284 72 7
River Ridge High School High Regular 1,601 88 8

Johnston Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 36
7
GreatSchools Rating

Mill Creek Middle School

  • Education Level: Middle
  • # of students: 1,284
  • # of teachers: 72
7
GreatSchools Rating

River Ridge High School

  • Education Level: High
  • # of students: 1,601
  • # of teachers: 88
8
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,015
Property Tax -$199
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$225

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.

$275,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.86%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$41,793

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,748

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6203$1,6504$1,8005$1,824
$1,824
RENT COMPS ANALYSIS
  • 611 Colony Court Woodstock, 2
    • 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.89
    •  
  • 409 Creekside Lane Woodstock, 1
    • 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1978
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.01
    •  
  • 1132 Dunedin Trail Woodstock, 3
    • 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 2000
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 602 Dahoma Trail Woodstock, 4
    • 3 beds 3 baths ∙ 1,974 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,974 Sqft ∙ Built 2000
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 1022 Washington Avenue Woodstock, 5
    • 3 beds 2 baths ∙ 1,935 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,935 Sqft ∙ Built 1973
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,824
    • $0.94
    •  
PROPERTY LISTING DETAILS
The Davenport Group
1.404.436.1607
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6757056
Last Updated: 08/21/2020
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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