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2043 Ridgestone Landing Marietta, GA 30008

3 Beds 2 Baths 1,504 sqft Built 2001

INVESTimate

$260,000

List Price

$1,440

$1,296 - $1,584

Rent Est.

$284,492  ( +9.42%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $172.87
  • 7 Days on Market
  • MLS # : 6769514
  • Updated Date : 08/23/2020 at 10:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,504 sqft
  • Baths : 2 full
Listing Agent's Description

METICULOUSLY MAINTAINED RANCH HOME *LARGE PRIVATE LOT *NEW HVAC (2019) *COVERED FRONT PORCH *HIGH VAULTED CEILING IN THE GREAT ROOM WITH GAS LOG FIREPLACE *BREAKFAST BAR OVERLOOKS EAT-IN KITCHEN WITH WHITE CABINETRY, STAINLESS STEEL APPLIANCES AND BREAKFAST ROOM *FORMAL DINING WITH ARCHED ENTRYWAY *COMMERCIAL GRADE LVT FLOORING THROUGHOUT BEDROOMS *VAULTED CEILING IN THE OVERSIZED OWNER'S SUITE WITH HIS AND HERS CLOSETS *PRIVATE MASTER BATHROOM WITH NEW DOUBLE SINK VANITY, SOAKING TUB AND SEPARATE SHOWER *2 GENEROUSLY SIZED SECONDARY BEDROOMS *NEW COMFORT HEIGHT / WATER

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Woodland Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k282k

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

Neighborhood: Woodland Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8171868

* 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
Milford Elementary School Primary Regular 448 47 4
Smitha Middle School Middle Regular 986 65 5
Osborne High School High Regular 1,999 123 3

Milford Elementary School

  • Education Level: Primary
  • # of students: 448
  • # of teachers: 47
4
GreatSchools Rating

Smitha Middle School

  • Education Level: Middle
  • # of students: 986
  • # of teachers: 65
5
GreatSchools Rating

Osborne High School

  • Education Level: High
  • # of students: 1,999
  • # of teachers: 123
3
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$959
Property Tax -$412
Property Insurance -$56
HOA -$42
Property Management Fees -$119
CASH FLOW
-$148

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.

$260,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.42%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,301

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,173

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,4403$1,495
$1,495
RENT COMPS ANALYSIS
  • 2043 Ridgestone Landing Marietta, 2
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.96
    •  
  • 1754 Bertram Lane Sw Marietta, 1
    • 3 beds 3 baths ∙ 1,706 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,706 Sqft ∙ Built 1993
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.70
    •  
  • 764 Reeves Lake Drive Sw Marietta, 3
    • 3 beds 3 baths ∙ 1,744 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,744 Sqft ∙ Built 1996
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
PROPERTY LISTING DETAILS
Tracy Cousineau Advisors
1.770.905.6781
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6769514
Last Updated: 08/23/2020
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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