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1789 Merry Oak Road Sw Marietta, GA 30008

3 Beds 2 Baths 1,376 sqft Built 1979

$215,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $156.25
  • 3 Days on Market
  • MLS # : 6809118
  • Updated Date : 11/21/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,376 sqft
  • Baths : 2 full
Listing Agent's Description

Cute as a button with a rocking chair front porch! Ranch home on a corner lot. Beautifully landscaped. Open floor plan with high ceiling in the family room that's very spacious to fit another sitting area and dining room, tiled fireplace, recently painted with modern grey color. Great home for first-time buyers or investors. Move-in ready. Private, fenced back yard. NO HOA! Shopping & restaurants just minutes away.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Woodmere

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $72k282k

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

Neighborhood: Woodmere

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
Sanders Elementary School Primary Regular 800 64 4
Garrett Middle School Middle Regular 831 51 5
South Cobb High School High Regular 2,074 106 4

Sanders Elementary School

  • Education Level: Primary
  • # of students: 800
  • # of teachers: 64
4
GreatSchools Rating

Garrett Middle School

  • Education Level: Middle
  • # of students: 831
  • # of teachers: 51
5
GreatSchools Rating

South Cobb High School

  • Education Level: High
  • # of students: 2,074
  • # of teachers: 106
4
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$793
Property Tax -$340
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$14

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.

$215,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.61%

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$100k$200k$300k$400k$500k$600k$700k

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$6,987

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,039

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1503$1,320
$1,320
RENT COMPS ANALYSIS
  • 1789 Merry Oak Road Sw Marietta, GA 3
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.96
    •  
  • 2386 Clare Court Sw Marietta, GA 1
    • 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 1989
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.70
    •  
  • 4600 Churchill Court Austell, GA 2
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1977
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.81
    •  
PROPERTY LISTING DETAILS
Linda Khano
1.404.915.5268
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6809118
Last Updated: 11/21/2020
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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