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1040 Westover Court Sw Marietta, GA 30064

3 Beds 3 Baths 1,515 sqft Built 1981

$390,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $257.43
  • 7 Days on Market
  • MLS # : 6835413
  • Updated Date : 02/03/2021 at 12:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,515 sqft
  • Baths : 3 full
Listing Agent's Description

This beautiful home is a must see! Meticulously maintained and updated. This Ranch on a full basement is a move in ready home less than 2 miles from all the shopping and restaurants at the Marietta Square. It is also located in the highly sought after Marietta School District. Pristine hardwood floors, Granite countertops, plantation window blinds with energy saving double pane windows throughout the house. It features a screened in porch with a beautiful patio underneath, and a nice private back yard great for children and pets.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Hickory Walk

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k282k

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

Neighborhood: Hickory Walk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8171868

* 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
A.l. Burruss Elementary School Primary Charter 490 36 5
Marietta Middle School Middle Charter 1,303 83 5
Marietta High School High Charter 2,061 132 5

A.l. Burruss Elementary School

  • Education Level: Primary
  • # of students: 490
  • # of teachers: 36
5
GreatSchools Rating

Marietta Middle School

  • Education Level: Middle
  • # of students: 1,303
  • # of teachers: 83
5
GreatSchools Rating

Marietta High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 132
5
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,355
Property Tax -$370
Property Insurance -$56
HOA -$25
Property Management Fees -$119
CASH FLOW
-$306

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$390,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$908

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,409

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,620
$1,620
RENT COMPS ANALYSIS
  • 1040 Westover Court Sw Marietta, GA 3
    • 3 beds 3 baths ∙ 1,515 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,515 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.07
    •  
  • 750 Reeves Lake Drive Sw Marietta, GA 1
    • 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 1999
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 348 Baskin Drive Sw Marietta, GA 2
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1983
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ned Oliver
1.404.661.9301
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6835413
Last Updated: 02/03/2021
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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