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2022 Shallowford Road Marietta, GA 30066

3 Beds 2 Baths 1,658 sqft Built 1966

$240,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1966
  • Price/Sqft : $144.75
  • 6 Days on Market
  • MLS # : 6804334
  • Updated Date : 11/06/2020 at 09:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,658 sqft
  • Baths : 2 full
Listing Agent's Description

Charming 3 Bedroom/2 Bath well maintained Ranch in desirable East Cobb neighborhood. Large fenced, level backyard with garden area - plenty of room to entertain and run around in. New exterior and interior paint. New vinyl flooring and hardwoods throughout. New kitchen countertops. Updated hall bathroom. Large living room with Rustic Stone Fireplace. Bonus Room that can be used as an office or a fourth bedroom. Conveniently located to I-75 and 575.

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: North Woods Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $108k321k

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

Neighborhood: North Woods Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8742009

* 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
Nicholson Elementary School Primary Regular 513 38 8
Mccleskey Middle School Middle Regular 681 43 7
Kell High School High Regular 1,548 83 7

Nicholson Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 38
8
GreatSchools Rating

Mccleskey Middle School

  • Education Level: Middle
  • # of students: 681
  • # of teachers: 43
7
GreatSchools Rating

Kell High School

  • Education Level: High
  • # of students: 1,548
  • # of teachers: 83
7
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$886
Property Tax -$380
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$96

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.

$240,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.7%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$21,126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,563

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5503$1,7004$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 2022 Shallowford Road Marietta, GA 1
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.93
    •  
  • 4065 Keheley Glen Drive Ne Marietta, GA 2
    • 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 1986
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 3250 Fawn Trail Marietta, GA 3
    • 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1975
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
  • 3608 Downing Street Marietta, GA 4
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1984
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
  • 1744 Christie Drive Ne Marietta, GA 5
    • 4 beds 3 baths ∙ 1,919 Sqft ∙ Built 1981 4 beds 3 baths ∙ 1,919 Sqft ∙ Built 1981
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
PROPERTY LISTING DETAILS
Mandy Taconi Pitalo
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6804334
Last Updated: 11/06/2020
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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