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154 Summer Lake Drive Sw Marietta, GA 30060

3 Beds 3 Baths 1,268 sqft Built 1994

$230,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $181.39
  • 8 Days on Market
  • MLS # : 6802655
  • Updated Date : 11/02/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,268 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Amazing buying opportunity on this lovely 3BR/2.5BA home situated on a subdivision Summer Lake .Freshly painted in and out .All new floors , Fresh interior paint! Main level features: Living room w/ brick surround fireplace, formal dining room, Kitchen w/ stainless steel appliance, breakfast area, plus conveniently located hallway half bath. Upstairs features: owner's suite w/ tray ceiling, spacious walk-in closet, plus in suite bath w/vanity, combo Tub and tile floors .Roof 2 years old. Brand new garage door and opener. Must see all new faucet and light fixture.

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: Summerlake

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k282k

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

Neighborhood: Summerlake

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
Labelle Elementary School Primary Regular 555 52 4
Smitha Middle School Middle Regular 986 65 5
Osborne High School High Regular 1,999 123 3

Labelle Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 52
4
GreatSchools Rating

Smitha Middle School

  • Education Level: Middle
  • # of students: 986
  • # of teachers: 65
5
GreatSchools Rating

Osborne High School

  • Education Level: High
  • # of students: 1,999
  • # of teachers: 123
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$849
Property Tax -$364
Property Insurance -$52
HOA -$42
Property Management Fees -$119
CASH FLOW
$5

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

$1,430

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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 55% 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

3.08

YEARS SAVED

$6,430

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,262

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4303$1,5004$1,5005$1,650
$1,650
RENT COMPS ANALYSIS
  • 154 Summer Lake Drive Sw Marietta, GA 2
    • 3 beds 3 baths ∙ 1,268 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,268 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.13
    •  
  • 2885 Lakemont Place Sw Marietta, GA 1
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1974
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.98
    •  
  • 33 Alston Lane Sw Marietta, GA 3
    • 3 beds 3 baths ∙ 1,616 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,616 Sqft ∙ Built 1995
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 139 Summer Crest Place Sw Marietta, GA 4
    • 3 beds 3 baths ∙ 1,436 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,436 Sqft ∙ Built 1994
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
  • 1701 Bertram Lane Sw Marietta, GA 5
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1989
    property image
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
PROPERTY LISTING DETAILS
Josh Ortiz
1.678.464.3489
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6802655
Last Updated: 11/02/2020
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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