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612 Providence Walk Place Canton, GA 30114

5 Beds 4 Baths 2,982 sqft Built 2016

$375,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $125.75
  • 3 Days on Market
  • MLS # : 6831356
  • Updated Date : 01/23/2021 at 08:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,982 sqft
  • Baths : 4 full
Listing Agent's Description

Dream home here!!. Spectacular 5 bed/ 4 bath home built in 2016. Open and spacious foyer leads to an open concept kitchen with granite countertop and a big breakfast island, enjoy espresso-colored hardwoods throughout the house, an in-law suite on the main floor with a full bathroom, a formal dining area that can be turned into an office or school space, large rooms upstairs, and an impressive master suite with a very spacious bathroom with double vanities, separate shower, garden tub.

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Neighborhood: Providence Walk

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $90k321k

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

Neighborhood: Providence Walk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7182009

* 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
Knox Elementary School Primary Regular 770 44 7
Knox Elementary School Middle Regular 770 44 7
Cherokee High School High Regular 2,378 135 6

Knox Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 44
7
GreatSchools Rating

Knox Elementary School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 44
7
GreatSchools Rating

Cherokee High School

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

$337,500$412,500$375,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,303
Property Tax -$306
Property Insurance -$85
HOA -$48
Property Management Fees -$119
CASH FLOW
$260

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.

$375,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.6%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$41,991

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,879

    COMP ESTIMATED VALUE
  • $0.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$2,120
$2,120
RENT COMPS ANALYSIS
  • 612 Providence Walk Place Canton, GA 2
    • 5 beds 4 baths ∙ 2,982 Sqft ∙ Built 2016 5 beds 4 baths ∙ 2,982 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.71
    •  
  • 148 Holly Mill Village Drive Canton, GA 1
    • 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 2003
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.63
    •  
PROPERTY LISTING DETAILS
Andreina Perez
1.470.505.8222
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831356
Last Updated: 01/23/2021
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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