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2071 Mulkey Road Sw Marietta, GA 30008

3 Beds 2 Baths 1,196 sqft Built 1971

$189,900

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $158.78
  • 3 Days on Market
  • MLS # : 6803344
  • Updated Date : 11/02/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,196 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

This pristine property has been extremely well cared for and is ready for you to call it home! The unique drive up allows for courtyard parking to the garage. 3BR/1.5BA low maintenance, all brick exterior and NO CARPET. Tile and Hardwood flooring throughout. A Beautiful open eat in kitchen leads to an open air deck, perfect for entertaining. The private backyard makes for continuous entertainment opportunity. The prime location of this established neighborhood is walking accessible to shopping and dining. Professional photos available Nov 3rd.

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: Cherokee Trails

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $70k282k

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

Neighborhood: Cherokee Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500160017001800Rent in $6971868

* 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
Sanders Elementary School Primary Regular 800 64 4
Garrett Middle School Middle Regular 831 51 5
South Cobb High School High Regular 2,074 106 4

Sanders Elementary School

  • Education Level: Primary
  • # of students: 800
  • # of teachers: 64
4
GreatSchools Rating

Garrett Middle School

  • Education Level: Middle
  • # of students: 831
  • # of teachers: 51
5
GreatSchools Rating

South Cobb High School

  • Education Level: High
  • # of students: 2,074
  • # of teachers: 106
4
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$701
Property Tax -$301
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$49

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.

$189,900

PROJECTED PRICE

$1,220

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$8,790

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,082

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,220
1$1,2202$1,2503$1,350
$1,350
RENT COMPS ANALYSIS
  • 2071 Mulkey Road Sw Marietta, GA 1
    • 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $1.02
    •  
  • 2712 Horseshoe Creek Drive Sw Marietta, GA 2
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1989
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.89
    •  
  • 1025 Hurt Road Austell, GA 3
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1967
    property image
    LEASED 06/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.92
    •  
PROPERTY LISTING DETAILS
Monica Paul Johnson
1.404.271.0547
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803344
Last Updated: 11/02/2020
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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