Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

231 Cross Gate Drive Marietta, GA 30068

4 Beds 3 Baths 1,872 sqft Built 1973

$319,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $170.41
  • 4 Days on Market
  • MLS # : 6846151
  • Updated Date : 02/26/2021 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,872 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Fall in love with this adorably updated East Cobb beauty! Updates include granite counters, stainless steel appliances, hardwoods throughout main, and renovated bathrooms. In addition, this home comes complete with a recently replaced roof and HVAC system. Perfect for entertaining, 231 Cross Gate boasts a beautiful outdoor space that includes a marvelous deck, screened porch, and large backyard! Be sure to view the finished terrace level; ideal for a media or recreation room. Schedule your showing today!

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: Heritage Woods

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $113k560k

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

Neighborhood: Heritage Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200Rent in $9733324

* 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
Eastvalley Elementary School Primary Regular 712 50 8
East Cobb Middle School Middle Regular 1,223 78 6
Wheeler High School High Regular 2,117 128 8

Eastvalley Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 50
8
GreatSchools Rating

East Cobb Middle School

  • Education Level: Middle
  • # of students: 1,223
  • # of teachers: 78
6
GreatSchools Rating

Wheeler High School

  • Education Level: High
  • # of students: 2,117
  • # of teachers: 128
8
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,108
Property Tax -$505
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$24

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$319,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.18%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.74%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$14,859

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,938

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8204$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 231 Cross Gate Drive Marietta, GA 3
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.97
    •  
  • 142 Cross Gate Drive Marietta, GA 1
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1972
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.13
    •  
  • 421 Wall Street Marietta, GA 2
    • 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 1973
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 2955 Sope Creek Drive Marietta, GA 4
    • 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1973
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 651 Monticello Way Se Marietta, GA 5
    • 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 1964
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.01
    •  
PROPERTY LISTING DETAILS
Osei Anom
1.404.387.2415
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6846151
Last Updated: 02/26/2021
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.

BESbswy