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169 Summer Lake Drive Sw Marietta, GA 30060

3 Beds 2 Baths 1,510 sqft Built 1994

$249,990

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $165.56
  • 5 Days on Market
  • MLS # : 6821517
  • Updated Date : 12/24/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,510 sqft
  • Baths : 2 full
Listing Agent's Description

RARE FIND -- Stunning & Updated RANCH Home In Marietta!!! This Meticulously Maintained Home Features 3 Bedrooms, 2 Bathrooms & An Open Concept Floorplan -- Enjoy Cooking In The Gorgeous Chef's Kitchen With White Cabinets, Granite Countertops, Stainless Steel Appliances, Farmhouse Sink, Huge Kitchen Island & View To Family Room With Vaulted Ceiling & Brick Fireplace. Spacious Secondary Bedrooms With New Carpet & Oversized Master Bedroom With Trey Ceiling! Updated Master Suite Bathroom With Gorgeous Renovated Shower & Incredible Walk-In Closet.

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
 

$224,991$274,989$249,990

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$922
Property Tax -$396
Property Insurance -$56
HOA -$21
Property Management Fees -$119
CASH FLOW
-$24

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.

$249,990

PROJECTED PRICE

$1,490

PROJECTED RENT

0.60%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$71,997

INVESTMENT

$71,997

Down Payment
$62,498
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,498
Loan Amount $187,493
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$5,549

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,514

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5003$1,6004$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 169 Summer Lake Drive Sw Marietta, GA 1
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.99
    •  
  • 139 Summer Crest Place Sw Marietta, GA 2
    • 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
    •  
  • 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 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 25 Alston Lane Sw Marietta, GA 4
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1996
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.04
    •  
  • 2102 Taylor Meadows Way Sw Marietta, GA 5
    • 4 beds 3 baths ∙ 1,810 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,810 Sqft ∙ Built 2000
    property image
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
PROPERTY LISTING DETAILS
Julie Fogard
1.770.356.9806
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6821517
Last Updated: 12/24/2020
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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