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2119 Summer Wind Drive Sw Marietta, GA 30060

3 Beds 3 Baths 1,268 sqft Built 1995

$229,999

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $181.39
  • 2 Days on Market
  • MLS # : 6820298
  • Updated Date : 12/19/2020 at 07:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,268 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

OMG HONEY LOOK IN MARIETTA.... THIS WON’T LAST LONG RENOVATED HOME WITH IN 5 MIN FROM THE HISTORIC MARIETTA SQUARE NEW ROOF NEW HARD WOODS REMODELED COUNTER TOPS UPDATE LIGHT FIXTURES NEWLY PAINTED CLOSE TO THE HIGHWAYS AND SHOPPINGS MALL CLOSE TO SCHOOLS CLOSE TO THE BATTERY PARK LAST HOME SOLD FOR 239K GREAT PRICE IN THIS PRIME LOCATION. THE HOME IS OCCUPIED SO PLEASE ADHERE TO ALL CDC GUIDELINES PLEASE WEAR MASKS AND BOOTIES - HOME IS BEING SOLD AS - IS COULD GO FHA, COV OR CASH

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)
  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Summerlake

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k282k

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

Neighborhood: Summerlake

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
Labelle Elementary School Primary Regular 555 52 4
Smitha Middle School Middle Regular 986 65 5
Osborne High School High Regular 1,999 123 3

Labelle Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 52
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
 

$206,999$252,999$229,999

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$849
Property Tax -$364
Property Insurance -$52
HOA -$20
Property Management Fees -$119
CASH FLOW
$117

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.

$229,999

PROJECTED PRICE

$1,520

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
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$800k

PROJECTED ANNUAL CASH FLOW

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

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,499
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$14,748

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,306

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5003$1,5204$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 2119 Summer Wind Drive Sw Marietta, GA 3
    • 3 beds 3 baths ∙ 1,268 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,268 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.20
    •  
  • 693 Springhollow Drive Sw Marietta, GA 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1982
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.06
    •  
  • 139 Summer Crest Place Sw Marietta, GA 2
    • 3 beds 3 baths ∙ 1,436 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,436 Sqft ∙ Built 1994
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
  • 33 Alston Lane Sw Marietta, GA 4
    • 3 beds 3 baths ∙ 1,616 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,616 Sqft ∙ Built 1995
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 1701 Bertram Lane Sw Marietta, GA 5
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1989
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
PROPERTY LISTING DETAILS
David W Miguel
1.404.916.2400
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820298
Last Updated: 12/19/2020
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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