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1151 Mountain View Drive Marietta, GA 30062

3 Beds 3 Baths 1,084 sqft Built 1965

$230,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $212.18
  • 4 Days on Market
  • MLS # : 6835257
  • Updated Date : 02/05/2021 at 20:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,084 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This home has been loved and cared for by the seller and his family for the last 7 years. A ton of improvements and updates in place for your peace of mind - new plumbing, new electrical, new air ducts, new windows among the most expensive ones. New interior and exterior paint, real hardwoods throughout, open layout, a clean, dry full basement with a full finished bath lending endless possibilities for use. Huge deck in the back lets you enjoy gorgeous sunsets behind the tree line.

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: Bonnie Dell

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $81k321k

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

Neighborhood: Bonnie Dell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8192009

* 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
Lockheed Elementary School Primary Charter 955 67 3
Marietta Middle School Middle Charter 1,303 83 5
Marietta High School High Charter 2,061 132 5

Lockheed Elementary School

  • Education Level: Primary
  • # of students: 955
  • # of teachers: 67
3
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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$799
Property Tax -$218
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$156

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.

$230,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$25,206

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $1,113

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3003$1,3404$1,350
$1,350
RENT COMPS ANALYSIS
  • 1151 Mountain View Drive Marietta, GA 3
    • 3 beds 3 baths ∙ 1,084 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,084 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.24
    •  
  • 1329 Blanche Drive Se Marietta, GA 1
    • 3 beds 1 baths ∙ 1,170 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,170 Sqft ∙ Built 1962
    property image
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.03
    •  
  • 191 Old Bee Tree Drive Marietta, GA 2
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1955
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.98
    •  
  • 1792 Scufflegrit Road Marietta, GA 4
    • 3 beds 1 baths ∙ 1,260 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,260 Sqft ∙ Built 1956
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.07
    •  
PROPERTY LISTING DETAILS
Donika Parker
1.404.519.5017
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6835257
Last Updated: 02/05/2021
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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