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624 Ridge Crossing Drive Woodstock, GA 30189

4 Beds 3 Baths 2,719 sqft Built 1996

$364,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $134.20
  • 1 Days on Market
  • MLS # : 6815947
  • Updated Date : 12/05/2020 at 21:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,719 sqft
  • Baths : 3 full
Listing Agent's Description

THIS IS THE ONE! Kitchen & Baths has been updated with brand new granite. Big fenced backyard for entertaining and playing. Three bedrooms on the main level including the master suite with updated tile shower and garden tub. The full finished basement includes a bedroom, full bath, den, office, rec room and access to the backyard patio. This listing is in Deer Run Subdivision with great amenities including swimming pools and tennis. Five minutes to I-575 and Downtown Woodstock shopping and restaurants. Award winning Cherokee County schools serve this subdivision.

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

PRICE & RENT TRENDS

Neighborhood: Deer Run North

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Deer Run North

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
Carmel Elementary School Primary Regular 1,190 67 8
Woodstock Middle School Middle Regular 1,175 69 8
Woodstock High School High Regular 2,179 111 8

Carmel Elementary School

  • Education Level: Primary
  • # of students: 1,190
  • # of teachers: 67
8
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
 

$328,410$401,390$364,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,346
Property Tax -$290
Property Insurance -$80
HOA -$100
Property Management Fees -$119
CASH FLOW
-$25

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.

$364,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,346

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$19,227

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,897

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$1,9104$2,1005$2,184
$2,184
RENT COMPS ANALYSIS
  • 624 Ridge Crossing Drive Woodstock, GA 3
    • 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.70
    •  
  • 160 Stoneforest Drive Woodstock, GA 1
    • 3 beds 3 baths ∙ 2,788 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,788 Sqft ∙ Built 1998
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.66
    •  
  • 400 Towne Valley Drive Woodstock, GA 2
    • 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 1998
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.66
    •  
  • 717 Waveland Drive Woodstock, GA 4
    • 4 beds 3 baths ∙ 2,779 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,779 Sqft ∙ Built 2002
    property image
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.76
    •  
  • 521 Elkhorn Place Woodstock, GA 5
    • 4 beds 3 baths ∙ 3,058 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,058 Sqft ∙ Built 2002
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,184
    • $0.71
    •  
PROPERTY LISTING DETAILS
Valerie D Campbellpeeples
1.678.778.0878
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815947
Last Updated: 12/05/2020
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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