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1208 Brownstone Drive #10 Marietta, GA 30008

3 Beds 3 Baths 2,110 sqft Built 2007

$275,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $130.33
  • 2 Days on Market
  • MLS # : 6828827
  • Updated Date : 01/16/2021 at 20:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,110 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Rare end unit townhome only minutes from the Marietta Square. Located in the sought after gated Brownstone SQ community. This home features privacy backing up to a wooded area w a creek. The main level offers an open concept and features impeccable details w arched entrances & columns. The kitchen, with upgraded cabinetry, high end appliances, & granite countertops with views to the living room w fireplace. The Master suite is oversized w vaulted ceilings & a sitting area or office. You can relax & enjoy the oversized tub in the completely renovated master bathroom.

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)
  • #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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Brownstone Square

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k282k

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

Neighborhood: Brownstone Square

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
Dunleith Elementary School Primary Charter 756 54 4
Marietta Middle School Middle Charter 1,303 83 5
Marietta High School High Charter 2,061 132 5

Dunleith Elementary School

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 54
4
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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$955
Property Tax -$261
Property Insurance -$68
HOA -$288
Property Management Fees -$119
CASH FLOW
$139

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.

$275,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.4%
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-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$12,794

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,878

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6953$1,8004$1,8305$1,995
$1,995
RENT COMPS ANALYSIS
  • 1208 Brownstone Drive Marietta, GA 4
    • 3 beds 3 baths ∙ 2,110 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,110 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.87
    •  
  • 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
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 2157 Windstream Way Sw Marietta, GA 2
    • 3 beds 3 baths ∙ 1,894 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,894 Sqft ∙ Built 1996
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 1973 Ridgestone Run Marietta, GA 3
    • 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 2001
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 310 Overbend Landing Sw Marietta, GA 5
    • 4 beds 3 baths ∙ 2,307 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,307 Sqft ∙ Built 2000
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
PROPERTY LISTING DETAILS
Martha Osullivan
1.404.964.9918
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828827
Last Updated: 01/16/2021
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. © 2017 First Multiple Listing Service, Inc.

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