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7203 Meadow Gate Way Woodstock, GA 30189

4 Beds 3 Baths 2,159 sqft Built 1992

$309,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $143.12
  • 7 Days on Market
  • MLS # : 6831754
  • Updated Date : 01/27/2021 at 10:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,159 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This is the home you've been waiting for in the sought after swim/tennis, family-friendly community of Wyngate! Nestled on a quiet cul-de-sac, this fabulous floor plan is perfect for entertaining. Beautiful bright kitchen, stainless steel appliances and built in seating area with extra storage underneath. Fireside family room features ceiling fan with lights. The master suite features double-trey ceiling and windows overlooking the private backyard. The master bathroom boasts a double vanity, a separate jetted tub and shower with a spacious walk-in closet.

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: Wyngate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Wyngate

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
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
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,073
Property Tax -$252
Property Insurance -$69
HOA -$50
Property Management Fees -$119
CASH FLOW
$97

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.

$309,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.7%
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$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$23,067

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,754

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,6603$1,7254$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 7203 Meadow Gate Way Woodstock, GA 2
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.77
    •  
  • 1513 Sandpiper Drive Woodstock, GA 1
    • 4 beds 4 baths ∙ 2,128 Sqft ∙ Built 1988 4 beds 4 baths ∙ 2,128 Sqft ∙ Built 1988
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.77
    •  
  • 321 Bethel Drive Woodstock, GA 3
    • 3 beds 2 baths ∙ 2,270 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,270 Sqft ∙ Built 1985
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.76
    •  
  • 8002 Ashwell Court Woodstock, GA 4
    • 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 1996
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 123 Kingland Street Woodstock, GA 5
    • 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2006
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
PROPERTY LISTING DETAILS
Michele Williams
1.770.722.1303
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831754
Last Updated: 01/27/2021
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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