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185 Howard Street Ne Marietta, GA 30060

3 Beds 1 Baths 1,075 sqft Built 1962

$219,900

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $204.56
  • 4 Days on Market
  • MLS # : 6849069
  • Updated Date : 03/06/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,075 sqft
  • Baths : 1 full
Listing Agent's Description

Showings start Saturday - Welcome Home to this beautiful home just 1.7 miles to the Marietta Square! This cottage style home has been lovingly cared for and features 3 bedrooms and a full bath. Large kitchen that walks out to the back porch. Nice sized living room. Hardwoods throughout, Newer HVAC, Tankless Water Heater, Roof, Electric Panel Box and more! Homeowners would prefer to sell As-Is since they have already put so much into this home. This lovely home sits on a corner lot within walking distance to White Water and shopping!

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Washington Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280kPrice in $57k282k

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

Neighborhood: Washington Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500160017001800Rent in $6601868

* 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
Sawyer Road Elementary School Primary Charter 786 59 6
Marietta Middle School Middle Charter 1,303 83 5
Marietta High School High Charter 2,061 132 5

Sawyer Road Elementary School

  • Education Level: Primary
  • # of students: 786
  • # of teachers: 59
6
GreatSchools Rating

Marietta Middle School

  • Education Level: Middle
  • # of students: 1,303
  • # of teachers: 83
5
GreatSchools Rating

Marietta High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 132
5
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$764
Property Tax -$209
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
-$50

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.

$219,900

PROJECTED PRICE

$1,090

PROJECTED RENT

0.50%

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

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$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$4,318

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,129

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,090
1$1,0902$1,1953$1,2004$1,3005$1,495
$1,495
RENT COMPS ANALYSIS
  • 185 Howard Street Ne Marietta, GA 1
    • 3 beds 1 baths ∙ 1,075 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,075 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $1.01
    •  
  • 1922 Hazelwood Drive Se Marietta, GA 2
    • 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1951
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.09
    •  
  • 1329 Blanche Drive Se Marietta, GA 3
    • 3 beds 1 baths ∙ 1,170 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,170 Sqft ∙ Built 1962
    property image
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.03
    •  
  • 191 Old Bee Tree Drive Marietta, GA 4
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1955
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.98
    •  
  • 130 Woods Drive Ne Marietta, GA 5
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1962
    property image
    LEASED 01/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.10
    •  
PROPERTY LISTING DETAILS
Michelle Dodd
1.404.310.0899
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6849069
Last Updated: 03/06/2021
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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