Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1181 Luther Drive Sw Mableton, GA 30126

3 Beds 3 Baths 1,600 sqft Built 1963

$200,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $125.00
  • 6 Days on Market
  • MLS # : 6846869
  • Updated Date : 02/27/2021 at 11:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Great Mableton 4 sided brick family home with side entrance garage on a fenced, large corner level lot at the end of a quiet cul-de-sac street. Upstairs features 3 bedrooms and 2 full bathrooms, an open concept plan that offers a large kitchen with granite countertops, tile backsplash and stainless steel appliances, a beautiful custom built entertainment center in the living room, all accentuated by the hardwood flooring on this level.There is a partial finished basement with a half bath and ample space to make it your own.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Patterson Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $65k231k

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

Neighborhood: Patterson Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7641561

* 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
Mableton Elementary School Primary Regular 972 67 4
Floyd Middle School Middle Regular 935 54 4
South Cobb High School High Regular 2,074 106 4

Mableton Elementary School

  • Education Level: Primary
  • # of students: 972
  • # of teachers: 67
4
GreatSchools Rating

Floyd Middle School

  • Education Level: Middle
  • # of students: 935
  • # of teachers: 54
4
GreatSchools Rating

South Cobb High School

  • Education Level: High
  • # of students: 2,074
  • # of teachers: 106
4
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$695
Property Tax -$200
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$158

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.

$200,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.9%
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

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$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$17,546

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,312

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2303$1,2504$1,3605$1,400
$1,400
RENT COMPS ANALYSIS
  • 1181 Luther Drive Sw Mableton, GA 2
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.77
    •  
  • 5168 Mable Lake Drive Sw Mableton, GA 1
    • 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1958
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.87
    •  
  • 1353 Laverte Circle Sw Mableton, GA 3
    • 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1960
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.75
    •  
  • 1633 Old Alabama Road Austell, GA 4
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1965
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.82
    •  
  • 520 Shannon Green Circle Mableton, GA 5
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1974
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.84
    •  
PROPERTY LISTING DETAILS
Barbara Rexach
1.470.519.4247
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6846869
Last Updated: 02/27/2021
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.

BESbswy