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732 Mountain Laurel Drive Canton, GA 30114

3 Beds 3 Baths 1,880 sqft Built 2006

$269,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $143.09
  • 12 Days on Market
  • MLS # : 6831744
  • Updated Date : 02/20/2021 at 00:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,880 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome home! Brand new interior paint, new flooring, and new granite throughout. Two-story foyer which leads to the spacious kitchen, dining room and family room. The kitchen features freshly painted white cabinets, granite and SS appliances. Enjoy your private patio and fenced backyard. Upstairs you will find 3 bedrooms & 2 bathrooms and hallway full size laundry room. Community amenities include: pool, playground and doggie stations. Prominence Point is conveniently located close to shopping, dining and only minutes from I-575 and in award winning school district!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)

PRICE & RENT TRENDS

Neighborhood: Prominence Point

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $103k267k

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

Neighborhood: Prominence Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9371681

* 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
Liberty Elementary School Primary Regular 1,274 68 8
Freedom Middle School Middle Regular 1,119 65 9
Cherokee High School High Regular 2,378 135 6

Liberty Elementary School

  • Education Level: Primary
  • # of students: 1,274
  • # of teachers: 68
8
GreatSchools Rating

Freedom Middle School

  • Education Level: Middle
  • # of students: 1,119
  • # of teachers: 65
9
GreatSchools Rating

Cherokee High School

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

$242,100$295,900$269,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$934
Property Tax -$274
Property Insurance -$64
HOA -$58
Property Management Fees -$119
CASH FLOW
$101

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.

$269,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$934

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$17,629

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,6004$1,6005$1,635
$1,635
RENT COMPS ANALYSIS
  • 732 Mountain Laurel Drive Canton, GA 2
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 306 Kaley Drive Canton, GA 1
    • 3 beds 3 baths ∙ 1,919 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,919 Sqft ∙ Built 2005
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 303 Azalea Loop Canton, GA 3
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 2006
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 730 Mountain Laurel Drive Drive Canton, GA 4
    • 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 2006
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 404 Wisteria Trail Canton, GA 5
    • 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 2004
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.80
    •  
PROPERTY LISTING DETAILS
Lynn Esposito
1.770.331.7832
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831744
Last Updated: 02/20/2021
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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