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1463 Oak Springs Drive Marietta, GA 30066

4 Beds 3 Baths 2,299 sqft Built 1987

$330,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $143.54
  • 3 Days on Market
  • MLS # : 6839471
  • Updated Date : 02/12/2021 at 22:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,299 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Tucked away-premier location-quality built 2-story brick front traditional home situated on a large level cul-de-sac lot, great for entertaining families & friends! Our features include; gleaming hardwood floors, built-in shelving, iron spindles, custom oak cabinetry, a large screened porch, walk-in pantry, separate laundry room, solid wooden doors, a newer roof, hot water heater & HVAC systems. All bedrooms offer ample space for full sets of furniture. A luxurious owners suite with a jetted garden tub, double vanity, walk-in closet, oversized windows for natural light.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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)
  • 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: Oak Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Oak Creek Estates

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
Addison Elementary School Primary Charter 597 41 10
Daniell Middle School Middle Regular 952 52 7
Sprayberry High School High Regular 1,761 104 7

Addison Elementary School

  • Education Level: Primary
  • # of students: 597
  • # of teachers: 41
10
GreatSchools Rating

Daniell Middle School

  • Education Level: Middle
  • # of students: 952
  • # of teachers: 52
7
GreatSchools Rating

Sprayberry High School

  • Education Level: High
  • # of students: 1,761
  • # of teachers: 104
7
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,146
Property Tax -$523
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$49

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.

$330,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 9.2%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,285

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,920

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7953$1,8104$1,8855$2,025
$2,025
RENT COMPS ANALYSIS
  • 1463 Oak Springs Drive Marietta, GA 3
    • 4 beds 3 baths ∙ 2,299 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,299 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.79
    •  
  • 1129 Ramblewood Drive Ne Marietta, GA 1
    • 4 beds 2 baths ∙ 1,996 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,996 Sqft ∙ Built 1973
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 1580 Sprayberry Drive Marietta, GA 2
    • 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1981
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
  • 2827 Bob Bettis Road Marietta, GA 4
    • 3 beds 2 baths ∙ 2,175 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,175 Sqft ∙ Built 1987
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.87
    •  
  • 1484 Pleasant Street Marietta, GA 5
    • 4 beds 3 baths ∙ 2,404 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,404 Sqft ∙ Built 1980
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.84
    •  
PROPERTY LISTING DETAILS
Iva Rebecca Butler
1.404.556.9193
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6839471
Last Updated: 02/12/2021
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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