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661 Wedgewood Drive Woodstock, GA 30189

3 Beds 2 Baths 1,585 sqft Built 1990

$235,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $148.26
  • 4 Days on Market
  • MLS # : 6810641
  • Updated Date : 11/20/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,585 sqft
  • Baths : 2 full
Listing Agent's Description

Eagle Watch Diamond in the rough!! This house has great bones! One level living, high ceilings, lots of natural light, extra large garage, insulated windows, stainless appliances, and located in desirable beautiful Eagle Watch Subdivision. Great opportunity to get in at this price point and make this beauty your own. Some recent upgrades have been made - all it needs now is your personal touch. Top rated schools, local conveniences, abundant recreation - all waiting for you to enjoy!!

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)
  • 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: Eagle Watch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k359k

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

Neighborhood: Eagle Watch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9732109

* 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
Bascomb Elementary School Primary Regular 1,038 56 9
E.t. Booth Middle School Middle Regular 1,692 91 8
Etowah High School High Regular 2,411 125 8

Bascomb Elementary School

  • Education Level: Primary
  • # of students: 1,038
  • # of teachers: 56
9
GreatSchools Rating

E.t. Booth Middle School

  • Education Level: Middle
  • # of students: 1,692
  • # of teachers: 91
8
GreatSchools Rating

Etowah High School

  • Education Level: High
  • # of students: 2,411
  • # of teachers: 125
8
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$867
Property Tax -$195
Property Insurance -$58
HOA -$67
Property Management Fees -$119
CASH FLOW
$175

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.

$235,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$31,318

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,490

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,6503$1,6504$1,6655$1,745
$1,745
RENT COMPS ANALYSIS
  • 661 Wedgewood Drive Woodstock, GA 1
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.93
    •  
  • 234 Ashland Drive Woodstock, GA 2
    • 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 2001
    property image
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 165 Wallnut Hall Circle Woodstock, GA 3
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2004
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 232 Ashland Drive Woodstock, GA 4
    • 3 beds 3 baths ∙ 1,855 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,855 Sqft ∙ Built 2001
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.90
    •  
  • 135 Wallnut Hall Circle Woodstock, GA 5
    • 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 2002
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.97
    •  
PROPERTY LISTING DETAILS
Julie Auger
1.770.330.6471
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6810641
Last Updated: 11/20/2020
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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