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1104 Magnolia Way Se Smyrna, GA 30082

2 Beds 2 Baths 1,376 sqft Built 1984

$160,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $116.28
  • 4 Days on Market
  • MLS # : 6852115
  • Updated Date : 03/12/2021 at 08:01
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,376 sqft
  • Baths : 2 full
Listing Agent's Description

Lots of potential for this fee simple townhome in Smyrna with no HOA and endless possibilities. Bright and open floor plan with one oversized bedroom and bathroom on main and another large bedroom and bathroom upstairs. Large living room with fireplace, eat in kitchen and big kitchen. Great for rental or flip. Located near new Windy Hill Blvd project and Smyrna Market Village. Please make your best offer.

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: The Oaks of Concord

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260kPrice in $59k275k

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

Neighborhood: The Oaks of Concord

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8172001

* 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
Norton Park Elementary School Primary Regular 884 69 4
Griffin Middle School Middle Regular 1,196 70 5
Campbell High School High Regular 2,509 135 5

Norton Park Elementary School

  • Education Level: Primary
  • # of students: 884
  • # of teachers: 69
4
GreatSchools Rating

Griffin Middle School

  • Education Level: Middle
  • # of students: 1,196
  • # of teachers: 70
5
GreatSchools Rating

Campbell High School

  • Education Level: High
  • # of students: 2,509
  • # of teachers: 135
5
GreatSchools Rating
 

$144,000$176,000$160,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$556
Property Tax -$174
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$467

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.

$160,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.3%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,150

INVESTMENT

$48,150

Down Payment
$40,000
Rehab Estimate
$5,750
Closing Costs
$2,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$556

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $40,000
Loan Amount $120,000
See What Happens When You Reinvest Cash Flow

15.5

YEARS SAVED

$41,465

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,472

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,370
$1,370
RENT COMPS ANALYSIS
  • 1104 Magnolia Way Se Smyrna, GA 2
    • 2 beds 2 baths ∙ 1,376 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,376 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.00
    •  
  • 2293 Colleen Circle Sw Marietta, GA 1
    • 2 beds 1 baths ∙ 1,125 Sqft ∙ Built 1965 2 beds 1 baths ∙ 1,125 Sqft ∙ Built 1965
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.07
    •  
PROPERTY LISTING DETAILS
Cheves Goble
1.770.235.1684
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6852115
Last Updated: 03/12/2021
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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