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701 Midway Avenue Canton, GA 30114

4 Beds 3 Baths 2,329 sqft Built 2008

$360,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $154.57
  • 2 Days on Market
  • MLS # : 6834378
  • Updated Date : 01/30/2021 at 17:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,329 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Pristine home better than new. NEW paint in & out, AC, hot water heater, roof, grass, fence, carpet, deckrails & steps, french doors in basement. Retractable awning new on deck. Basement walls sealed, new basement shelves. Beautiful elevation w/stacked stone portico & front porch.. Wall of windows in great rm w/fireplace. Large kitchen w/view to GR. Sunny eat in area. Office rm off kitchen perfect for business or remote learning. Lg DR. Mudroom off garage. Oversized master w/2 closets. Lg secondary brs. Hurry!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: Towne Mill

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $68k267k

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

Neighborhood: Towne Mill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9731758

* 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
Teasley Middle School Middle Regular 1,423 94 6
Cherokee High School High Regular 2,378 135 6

Teasley Middle School

  • Education Level: Middle
  • # of students: 1,423
  • # of teachers: 94
6
GreatSchools Rating

Cherokee High School

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

$324,000$396,000$360,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,250
Property Tax -$367
Property Insurance -$72
HOA -$64
Property Management Fees -$119
CASH FLOW
$27

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.

$360,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.9%
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$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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$15,537

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,7504$1,7955$1,900
$1,900
RENT COMPS ANALYSIS
  • 701 Midway Avenue Canton, GA 5
    • 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
  • 218 Jefferson Avenue Canton, GA 1
    • 4 beds 3 baths ∙ 2,271 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,271 Sqft ∙ Built 2012
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.70
    •  
  • 118 Valdosta Avenue Canton, GA 2
    • 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 2012
    LEASED 08/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 110 Valdosta Avenue Canton, GA 3
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 2006
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.72
    •  
  • 219 Sleepy Way Canton, GA 4
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2015
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.76
    •  
PROPERTY LISTING DETAILS
Rosanne R Wells
1.678.687.7589
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6834378
Last Updated: 01/30/2021
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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