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1301 Glenover Way Marietta, GA 30062

3 Beds 2 Baths 1,877 sqft Built 1997

INVESTimate

$299,000

List Price

$1,730

$1,557 - $1,903

Rent Est.

$315,714  ( +5.59%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $159.30
  • 3 Days on Market
  • MLS # : 6771622
  • Updated Date : 08/25/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,877 sqft
  • Baths : 2 full
Listing Agent's Description

Welcome home! Stunning 3 bed / 2 bath traditional on a professionally landscaped level cul-de-sac lot in a coveted East Cobb community! Main floor features open floor plan, vaulted ceilings and plenty of natural light! White, bright kitchen with stainless steel appliances overlooks the fireside family room with beautiful hardwood flooring. Newly painted deck perfectly showcases the generous fully fenced back yard with lush Zoysia grass. 3 spacious bedrooms up including the Master Suite with luxurious bath with new tile.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: East Worthington Glens

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: East Worthington Glens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Sawyer Road Elementary School Primary Charter 786 59 6
Marietta Middle School Middle Charter 1,303 83 5
Marietta High School High Charter 2,061 132 5

Sawyer Road Elementary School

  • Education Level: Primary
  • # of students: 786
  • # of teachers: 59
6
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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,103
Property Tax -$284
Property Insurance -$63
HOA -$43
Property Management Fees -$119
CASH FLOW
$117

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.

$299,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.59%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$28,837

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,764

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,7603$1,8504$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 1301 Glenover Way Marietta, 1
    • 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.92
    •  
  • 1724 Chanson Place Marietta, 2
    • 3 beds 3 baths ∙ 1,813 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,813 Sqft ∙ Built 1996
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.97
    •  
  • 2015 Kinridge Road Marietta, 3
    • 3 beds 3 baths ∙ 1,888 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,888 Sqft ∙ Built 1979
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
  • 1596 Galewood Circle Marietta, 4
    • 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 1996
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 1351 Pinebreeze Court Marietta, 5
    • 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1995
    property image
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
PROPERTY LISTING DETAILS
Janice Overbeck
1.404.800.3159
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6771622
Last Updated: 08/25/2020
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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