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2158 Clementine Drive Marietta, GA 30066

4 Beds 4 Baths 2,978 sqft Built 1987

$325,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $109.13
  • 3 Days on Market
  • MLS # : 6846184
  • Updated Date : 02/27/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,978 sqft
  • Baths : 2 full , 2 half
Listing Agent's Description

Soaring two-story ceilings, granite countertops in kitchen & baths, hardwood floors, new carpet, new paint, new windows, near new HVAC, newer roof! Chef's eat-in kitchen w/ SS appliances, granite countertops, island, tile backsplash, custom cabinetry. Separate dining room w/ judges paneling. Fireside family room w/ soaring ceilings, catwalk & access to back deck. Master on the main & spa bath offers granite vanity, soaking tub & separate shower. Upstairs offers 2 secondary bedroom & updated granite bath. Finished basement w/ bath. All bedrooms offer walk-in closets.

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)
  • 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 has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 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)
  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Churchill Falls

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Churchill Falls

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Rocky Mount Elementary School Primary Regular 606 44 9
Simpson Middle School Middle Regular 921 58 8
Lassiter High School High Regular 2,131 118 10

Rocky Mount Elementary School

  • Education Level: Primary
  • # of students: 606
  • # of teachers: 44
9
GreatSchools Rating

Simpson Middle School

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

Lassiter High School

  • Education Level: High
  • # of students: 2,131
  • # of teachers: 118
10
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,129
Property Tax -$534
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
$283

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.

$325,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.6%
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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$38,038

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,397

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,985
1$1,9852$2,0003$2,1504$2,4505$2,800
$2,800
RENT COMPS ANALYSIS
  • 2158 Clementine Drive Marietta, GA 3
    • 4 beds 4 baths ∙ 2,978 Sqft ∙ Built 1987 4 beds 4 baths ∙ 2,978 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.72
    •  
  • 1820 Chasewood Park Drive Marietta, GA 1
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 1996
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,985
    • $0.75
    •  
  • 2189 Chartwell Drive Marietta, GA 2
    • 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1987
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
  • 2306 Wickingham Drive Ne Marietta, GA 4
    • 3 beds 3 baths ∙ 2,844 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,844 Sqft ∙ Built 1998
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.86
    •  
  • 2800 Davis Road Marietta, GA 5
    • 4 beds 4 baths ∙ 3,264 Sqft ∙ Built 1972 4 beds 4 baths ∙ 3,264 Sqft ∙ Built 1972
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.86
    •  
PROPERTY LISTING DETAILS
Dennis Oriley
1.770.335.8814
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6846184
Last Updated: 02/27/2021
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.

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