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6618 Oak Farm Drive Se Acworth, GA 30102

3 Beds 2 Baths 1,232 sqft Built 1990

$197,900

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $160.63
  • 4 Days on Market
  • MLS # : 6859520
  • Updated Date : 03/26/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,232 sqft
  • Baths : 2 full
Listing Agent's Description

Hot Location—Great Price—Will NOT Last!! This three bedroom two bath ranch over full partially finished basement sits on a large cul-de-sac lot and is tucked back off of the road for privacy while still maintaining all of the benefits of a well maintained subdivision. This home features a rocking chair front porch, patio, and a huge fenced in back yard. Just minutes to 1-75, downtown Acworth and downtown Cartersville. Home qualifies for 100% USDA Financing. This home will not last long. All offers are due by 03/28/2021 @ 5:00pm.

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)
  • #1 Most affordable big city (WalletHub, 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30102

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k228k

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

Zip Code: 30102

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8021603

* 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
Allatoona Elementary School Primary Regular 465 33 4
South Central Middle School Middle Regular 638 44 4
Woodland High School High Regular 1,689 99 5

Allatoona Elementary School

  • Education Level: Primary
  • # of students: 465
  • # of teachers: 33
4
GreatSchools Rating

South Central Middle School

  • Education Level: Middle
  • # of students: 638
  • # of teachers: 44
4
GreatSchools Rating

Woodland High School

  • Education Level: High
  • # of students: 1,689
  • # of teachers: 99
5
GreatSchools Rating
 

$178,110$217,690$197,900

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$687
Property Tax -$154
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$329

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.

$197,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,194

INVESTMENT

$58,194

Down Payment
$49,475
Rehab Estimate
$5,750
Closing Costs
$2,969

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$687

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,475
Loan Amount $148,425
See What Happens When You Reinvest Cash Flow

12.5

YEARS SAVED

$39,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,170

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,3403$1,399
$1,399
RENT COMPS ANALYSIS
  • 6618 Oak Farm Drive Se Acworth, GA 2
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.09
    •  
  • 7284 Staton Place Se Acworth, GA 1
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1989
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.76
    •  
  • 114 Aztec Way Se Acworth, GA 3
    • 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1994
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.14
    •  
PROPERTY LISTING DETAILS
Carla Mahan
1.678.521.6108
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6859520
Last Updated: 03/26/2021
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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