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2284 Rushmore Drive Marietta, GA 30062

4 Beds 3 Baths 2,837 sqft Built 1984

$385,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $135.71
  • 6 Days on Market
  • MLS # : 6819077
  • Updated Date : 12/17/2020 at 10:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,837 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Enjoy the views from the Incredible Wrap Around Porch of this 4 Bdrm/2.5 Bath family home on almost a half acre wooded cul-de-sac lot. This home is a gardeners paradise w/ plants everywhere on the property, two ponds, a bridge & firepit. This backyard is a true wildlife habitat where deer, coyotes, raccoons, Great Blue Herons, a plethora of birds, turkeys, owls, and turtles have been seen. The lot backs up to land that is a privately owned wetland. The main level of this home has an updated kitchen featuring white cabs w/ tons of storage, granite countertops,

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: Plantation Place

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $113k432k

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

Neighborhood: Plantation Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9732524

* 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
Timber Ridge Elementary School Primary Regular 609 40 9
Dodgen Middle School Middle Regular 1,226 69 10
Walton High School High Charter 2,674 139 9

Timber Ridge Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 40
9
GreatSchools Rating

Dodgen Middle School

  • Education Level: Middle
  • # of students: 1,226
  • # of teachers: 69
10
GreatSchools Rating

Walton High School

  • Education Level: High
  • # of students: 2,674
  • # of teachers: 139
9
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,420
Property Tax -$714
Property Insurance -$82
HOA -$42
Property Management Fees -$119
CASH FLOW
$3

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.

$385,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.62%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$17,912

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,610

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3803$2,4004$2,5005$2,750
$2,750
RENT COMPS ANALYSIS
  • 2284 Rushmore Drive Marietta, GA 2
    • 4 beds 3 baths ∙ 2,837 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,837 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.84
    •  
  • 1958 Hitching Post Lane Marietta, GA 1
    • 3 beds 3 baths ∙ 2,680 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,680 Sqft ∙ Built 1982
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
  • 2207 Heritage Trace View Marietta, GA 3
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 1985
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.91
    •  
  • 2097 Old Forge Way Marietta, GA 4
    • 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 1981
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.97
    •  
  • 320 Highlands Trace Roswell, GA 5
    • 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 1985
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.94
    •  
PROPERTY LISTING DETAILS
Raegan Thorp
1.404.734.1173
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6819077
Last Updated: 12/17/2020
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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