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2016 Drogheda Lane Marietta, GA 30066

5 Beds 4 Baths 1,936 sqft Built 1994

$309,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $159.61
  • 7 Days on Market
  • MLS # : 6806700
  • Updated Date : 11/13/2020 at 10:24
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,936 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Beautiful 5 bedrooms, 3 full bathrooms home with additional game room in the basement, nestled on the private, house away from cul-de-sac lot in Briarwood Subdivision. Recently renovated, fresh exterior paint, new carpet, stainless steel kitchen appliances and granite counter tops. Roof and HVAC system less then 5 years old. Very private backyard, convenient location and minutes away from Downtown Marietta, all the shops and restaurants. Come and visit today.

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Briarwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $103k282k

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

Neighborhood: Briarwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9731868

* 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
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,140
Property Tax -$293
Property Insurance -$65
HOA -$40
Property Management Fees -$119
CASH FLOW
$93

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.

$309,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$23,349

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,747

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,9954$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 2016 Drogheda Lane Marietta, GA 1
    • 5 beds 4 baths ∙ 1,936 Sqft ∙ Built 1994 5 beds 4 baths ∙ 1,936 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 1580 Sprayberry Drive Marietta, GA 2
    • 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1981
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
  • 1596 Galewood Circle Marietta, GA 3
    • 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 1996
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 1351 Pinebreeze Court Marietta, GA 4
    • 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1995
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
  • 1176 Ashley Lake Drive Marietta, GA 5
    • 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 1980
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Anita Darcourt
1.770.946.1854
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6806700
Last Updated: 11/13/2020
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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