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623 Sweet Bay Ridge Woodstock, GA 30188

3 Beds 4 Baths 2,397 sqft Built 2018

$325,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $135.59
  • 5 Days on Market
  • MLS # : 6844641
  • Updated Date : 02/26/2021 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,397 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Welcome home! This fantastic end unit townhome offers 3 bedrooms 3.5 bathrooms plus a large bonus room in the basement! The main level offers an open floor plan, hardwoods throughout, separate dining room, wine fridge and bar area and stainless steel appliances. Large deck off the living room. Upstairs you will find a large owners suite, 2 additional bedrooms. This townhome is located in sought after River Park and offers all the best amenities!

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)
  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: The Ridge at River Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $97k321k

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

Neighborhood: The Ridge at River Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Woodstock Elementary School Primary Regular 1,142 67 5
Woodstock Middle School Middle Regular 1,175 69 8
Woodstock High School High Regular 2,179 111 8

Woodstock Elementary School

  • Education Level: Primary
  • # of students: 1,142
  • # of teachers: 67
5
GreatSchools Rating

Woodstock Middle School

  • Education Level: Middle
  • # of students: 1,175
  • # of teachers: 69
8
GreatSchools Rating

Woodstock High School

  • Education Level: High
  • # of students: 2,179
  • # of teachers: 111
8
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,129
Property Tax -$235
Property Insurance -$73
HOA -$85
Property Management Fees -$119
CASH FLOW
-$1

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.

$325,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$15,750

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,822

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6503$1,6954$1,7455$1,895
$1,895
RENT COMPS ANALYSIS
  • 623 Sweet Bay Ridge Woodstock, GA 1
    • 3 beds 4 baths ∙ 2,397 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,397 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.68
    •  
  • 315 Alcovy Way Woodstock, GA 2
    • 3 beds 3 baths ∙ 2,119 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,119 Sqft ∙ Built 2012
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 334 Pin Oak Avenue Woodstock, GA 3
    • 4 beds 3 baths ∙ 2,144 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,144 Sqft ∙ Built 2006
    property image
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.79
    •  
  • 703 Barberry Drive Woodstock, GA 4
    • 4 beds 4 baths ∙ 2,592 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,592 Sqft ∙ Built 2014
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.67
    •  
  • 111 Camdyn Circle Woodstock, GA 5
    • 4 beds 3 baths ∙ 2,367 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,367 Sqft ∙ Built 2014
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.80
    •  
PROPERTY LISTING DETAILS
Alexandra French
1.404.310.1164
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6844641
Last Updated: 02/26/2021
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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