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1821 Merry Oak Road Sw Marietta, GA 30008

4 Beds 2 Baths 1,700 sqft Built 1979

INVESTimate

$194,500

List Price

$1,340

$1,206 - $1,474

Rent Est.

$212,822  ( +9.42%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $114.41
  • 2 Days on Market
  • MLS # : 6771794
  • Updated Date : 08/26/2020 at 03:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent's Description

WILL NOT LAST LONG.. HOT NEW LISTING! 4 bedroom/ 2 bathroom split level home! NEW ROOF Completed two years ago . Hardwood floors! FRESH new exterior paint!!

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: 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
 

$175,050$213,950$194,500

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$718
Property Tax -$308
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$135

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.

$194,500

PROJECTED PRICE

$1,340

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.42%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,293

INVESTMENT

$57,293

Down Payment
$48,625
Rehab Estimate
$5,750
Closing Costs
$2,918

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$718

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,625
Loan Amount $145,875
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$15,665

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,356

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,3953$1,4004$1,4455$1,525
$1,525
RENT COMPS ANALYSIS
  • 1821 Merry Oak Road Sw Marietta, 1
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.79
    •  
  • 1060 Litchfield Way Sw Marietta, 2
    • 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 1995
    LEASED 03/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.76
    •  
  • 1798 Merry Oak Road Sw Marietta, 3
    • 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 1982
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.83
    •  
  • 3481 Clare Cottage Trace Sw Marietta, 4
    • 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 1989
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.82
    •  
  • 2165 Cottage Court Sw Marietta, 5
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 1988
    LEASED 05/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.78
    •  
PROPERTY LISTING DETAILS
Mariajensenya Caballero
1.404.661.8371
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6771794
Last Updated: 08/26/2020
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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