Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2031 Granite Mill Road Marietta, GA 30062

4 Beds 4 Baths 2,638 sqft Built 2013

$419,900

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $159.17
  • 2 Days on Market
  • MLS # : 6834435
  • Updated Date : 01/30/2021 at 21:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,638 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

The main floor has a wide open floor plan with featured arches. The living room, dining room, breakfast areas have updated lighting in oil-rubbed-bronze finish. The spacious den is open to the kitchen and breakfast area making it easy to host guests and have conversation with everyone while cooking. The den features an automatic gas fireplace, custom built-in bookshelves and new Masland carpet in a beautiful neutral color that is perfect for any decor.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (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).
  • 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 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: Granite Mill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k389k

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

Neighborhood: Granite Mill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100220023002400Rent in $9732429

* 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
Kincaid Elementary School Primary Regular 732 51 8
Simpson Middle School Middle Regular 921 58 8
Sprayberry High School High Regular 1,761 104 7

Kincaid Elementary School

  • Education Level: Primary
  • # of students: 732
  • # of teachers: 51
8
GreatSchools Rating

Simpson Middle School

  • Education Level: Middle
  • # of students: 921
  • # of teachers: 58
8
GreatSchools Rating

Sprayberry High School

  • Education Level: High
  • # of students: 1,761
  • # of teachers: 104
7
GreatSchools Rating
 

$377,910$461,890$419,900

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,458
Property Tax -$665
Property Insurance -$78
HOA -$29
Property Management Fees -$119
CASH FLOW
-$10

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.

$419,900

PROJECTED PRICE

$2,340

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.6%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,458

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$16,192

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,064

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0503$2,2004$2,3405$2,400
$2,400
RENT COMPS ANALYSIS
  • 2031 Granite Mill Road Marietta, GA 4
    • 4 beds 4 baths ∙ 2,638 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,638 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.89
    •  
  • 1461 Rosewood Creek Drive Marietta, GA 1
    • 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 1993
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
  • 1675 Broussard Way Marietta, GA 2
    • 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 1999
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.75
    •  
  • 2288 Snug Harbor Ne Marietta, GA 3
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 1998
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
  • 1867 Wilkenson Crossing Ne Marietta, GA 5
    • 4 beds 4 baths ∙ 2,909 Sqft ∙ Built 1999 4 beds 4 baths ∙ 2,909 Sqft ∙ Built 1999
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
PROPERTY LISTING DETAILS
Anthony Knox
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6834435
Last Updated: 01/30/2021
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.

BESbswy