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1371 Westward Drive Sw Marietta, GA 30008

3 Beds 3 Baths 1,884 sqft Built 2000

$230,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $122.08
  • 6 Days on Market
  • MLS # : 6812729
  • Updated Date : 11/26/2020 at 11:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,884 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This charming home near the Marietta Square. is a great location to enjoy all of what Marietta has to offer! On the main level ,you'll enjoy breakfast in the breakfast room that opens to the beautiful bright family room with its cozy fireplace. Upstairs has all 3 bedrooms and laundry room .The Master bedroom has 2 huge walk-in closets and Bathroom with sep. garden tub and shower. Updates include new paint, new tile , carpet and hardwood-like floors throughout.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Westview

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k282k

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

Neighborhood: Westview

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
 

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

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$849
Property Tax -$218
Property Insurance -$64
HOA -$8
Property Management Fees -$119
CASH FLOW
$202

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.

$230,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.63%

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

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$700k$800k

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 35% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$26,312

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,576

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4603$1,4954$1,750
$1,750
RENT COMPS ANALYSIS
  • 1371 Westward Drive Sw Marietta, GA 2
    • 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.77
    •  
  • 1423 Glynn Oaks Drive Sw Marietta, GA 1
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1985
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.82
    •  
  • 764 Reeves Lake Drive Sw Marietta, GA 3
    • 3 beds 3 baths ∙ 1,744 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,744 Sqft ∙ Built 1996
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
  • 1236 Cumberland Creek Place Sw Marietta, GA 4
    • 4 beds 3 baths ∙ 2,103 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,103 Sqft ∙ Built 2002
    LEASED 07/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
PROPERTY LISTING DETAILS
Tangela Clark Lamptey
1.678.634.6282
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6812729
Last Updated: 11/26/2020
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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