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1597 Lake Holcomb Lane Marietta, GA 30062

4 Beds 4 Baths 2,396 sqft Built 2011

$425,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $177.38
  • 3 Days on Market
  • MLS # : 6833786
  • Updated Date : 01/30/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,396 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Charming Craftsman Style Home in East Cobb * Open floorplan featuring spacious kitchen with granite countertops, oversized island, tons of beautiful stained cabinetry, stainless steel appliances including gas cooktop & pantry * Hardwood floors throughout the main * Family room with gas fireplace * Separate dining room * Upstairs includes a spacious master bedroom w/vaulted ceilings & spa like bath including double vanities, soaking tub, separate shower, water closet & large walk-in closet * 3 additional secondary bedrooms with spacious closets & 2 full baths *

SEE MORE

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: Holcomb Lake Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k388k

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

Neighborhood: Holcomb Lake Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9732361

* 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
Kincaid Elementary School Primary Regular 732 51 8
Simpson Middle School Middle Regular 921 58 8
Sprayberry High School High Regular 1,761 104 7

Kincaid Elementary School

  • Education Level: Primary
  • # of students: 732
  • # of teachers: 51
8
GreatSchools Rating

Simpson Middle School

  • Education Level: Middle
  • # of students: 921
  • # of teachers: 58
8
GreatSchools Rating

Sprayberry High School

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

$382,500$467,500$425,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,476
Property Tax -$702
Property Insurance -$73
HOA -$29
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.

$425,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.6%
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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$13,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,019

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,945
1$1,9452$1,9503$1,9954$1,9955$2,350
$2,350
RENT COMPS ANALYSIS
  • 1597 Lake Holcomb Lane Marietta, GA 5
    • 4 beds 4 baths ∙ 2,396 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,396 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.98
    •  
  • 1543 Evanston Court Marietta, GA 1
    • 3 beds 3 baths ∙ 2,246 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,246 Sqft ∙ Built 1997
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.87
    •  
  • 1461 Rosewood Creek Drive Marietta, GA 2
    • 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 1993
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
  • 1596 Galewood Circle Marietta, GA 3
    • 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 1996
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 1358 Woodcutt Place Marietta, GA 4
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1996
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jennifer Caron Derrick
1.770.331.4353
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6833786
Last Updated: 01/30/2021
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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