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1869 Keith Drive Sw Marietta, GA 30064

3 Beds 3 Baths 2,424 sqft Built 1993

$275,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $113.45
  • 1 Days on Market
  • MLS # : 6831728
  • Updated Date : 01/23/2021 at 23:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,424 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

HILLGROVE high school district! Located in sought after Chelsea Trace subdivision. Beautiful brick front home resting on a sizable basement for expansion. The home opens up to a spacious living room/dining room combo. Large den centered by a brick fireplace with access to the private screened-in porch. Perfect for entertaining. Owner's suite complemented by a large sitting room. Close to shopping and restaurants. Light cosmetic touch-ups to convert to your dream home! Priced to sell!

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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Chelsea Trace

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Chelsea Trace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Dowell Elementary School Primary Regular 887 68 6
Lovinggood Middle School Middle Regular 1,428 75 9
Hillgrove High School High Regular 2,301 111 9

Dowell Elementary School

  • Education Level: Primary
  • # of students: 887
  • # of teachers: 68
6
GreatSchools Rating

Lovinggood Middle School

  • Education Level: Middle
  • # of students: 1,428
  • # of teachers: 75
9
GreatSchools Rating

Hillgrove High School

  • Education Level: High
  • # of students: 2,301
  • # of teachers: 111
9
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$955
Property Tax -$436
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
$266

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.

$275,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.5%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$35,221

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,939

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,8504$1,8655$1,875
$1,875
RENT COMPS ANALYSIS
  • 1869 Keith Drive Sw Marietta, GA 3
    • 3 beds 3 baths ∙ 2,424 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,424 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 1556 Hascall Drive Sw Marietta, GA 1
    • 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 1988
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 1960 Mceachern Manor Drive Sw Marietta, GA 2
    • 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1981
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 1929 Knipe Drive Sw Marietta, GA 4
    • 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1994
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $0.75
    •  
  • 2090 Moccasin Way Sw Marietta, GA 5
    • 3 beds 3 baths ∙ 2,194 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,194 Sqft ∙ Built 1981
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.85
    •  
PROPERTY LISTING DETAILS
Lashekia Barker
1.404.593.3441
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831728
Last Updated: 01/23/2021
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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