174 Northwind Drive, Stockbridge, GA


$ 175,000 - Fix & Flip

5.0 bd | 2.5 ba | 2,215 sqft | 1996 | $ 1,652 Rent

ARV
$216,088
Net Profit
$71,242
Net ROI
76.00 %

Description

This home was built in 1996 and is located in Stockbridge, Georgia a South Atlanta suburb that is located in Henry County with a strong middle to upper middle class area.  McDonough is one of the nicest suburbs on the South side, and Stockbridge where this home is located is close by and also considered a great place to live and commute to Atlanta.  Pride of ownership is very good in the neighborhood, and this home is renovated to a higher standard than other homes in the community.  Renovations include new carpet, new luxury vinyl plank in the foyer, roof replaced in 2013 as well as the hot water heater, all new paint, freshly painted exterior door and shutters, fresh landscaping, a new ceiling fan in the owners suite and much more.

This home features an extremely open floor plan with a very large two car garage, a great room large bedrooms, a master bath with a garden tub and separate shower.  There is a loft or media room upstairs that wouldn't be hard to convert to a fourth bedroom.   This home will be getting new paint, new flooring throughout and some lighting upgrades as well as a new hot water heater most likely.

This property has a target rent of $1,300-1,400 per month and should be a reasonable cash flow, rent-ready, income producing property.  Atlanta tends to have stronger growth and appreciation than most cash flow markets, so that is a plus!


Fix & Flip Analysis

  • IRR: 39.41 %
  • Net Cashflow: $ 4,346
  • Rehab Est: $ 35,000
  • Cap Rate: 7.59 %
  • Monthly Rent: $ 1,652
  • ARV: $ 216,088
  • Cash on Cash: 10.99 %
  • Taxes: $ 1,453

Financial Analysis

  • Loan Amnt: $ 40,640
  • All-in Cost: $ 87,121
  • Debt Coverage Ratio: 7.59 %
  • Total Out of Pocket: $ 46,481
  • Monthly Mortgage: $ 224

Expense Assumptions

  • Prop Insurance: $ 1,313
  • Vacancy: $ 991
  • Prop Mgmt Fee: $ 1,586
  • Maintenance: $ 991
  • Capex: $ 0

Financing Assumptions

  • Cash Purchase: No
  • Loan Term: 360 months
  • Down Payment: 20.00 %
  • Points: 2.00
  • Interest Rate: 5.25 %
  • Interest only loan: No

Other Assumptions

  • Closing Cost: $ 1,750
  • Rental Holding Period: 12


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