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2327 Luther Terrace Sw Marietta, GA 30064

4 Beds 3 Baths 2,312 sqft Built 1995

$269,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $116.74
  • 2 Days on Market
  • MLS # : 6812631
  • Updated Date : 12/05/2020 at 20:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,312 sqft
  • Baths : 3 full
Listing Agent's Description

This 4 bedroom, 3 bath multilevel home is a must see! NEW siding (2020) along the exterior of the home. FRESH paint and NEW carpet (both 2020) throughout the home. This home features a whole-home HUMIDIFIER and an AIR PURIFIER. TWO FIREPLACES. The kitchen features a LG french door refrigerator and dual fuel stove - GAS BURNERS & electric ovens. Wired Ethernet throughout the entire home (2020). Finished BONUS room for indoor media entertainment. LARGE BACK DECK and YARD perfect for outdoor entertaining.

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Neighborhood: Hice Farm

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k282k

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

Neighborhood: Hice Farm

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
Hollydale Elementary School Primary Regular 689 57 5
Smitha Middle School Middle Regular 986 65 5
Osborne High School High Regular 1,999 123 3

Hollydale Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 57
5
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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$996
Property Tax -$427
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$56

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.

$269,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.5%
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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$11,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,792

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6703$1,6954$1,7105$1,750
$1,750
RENT COMPS ANALYSIS
  • 2327 Luther Terrace Sw Marietta, GA 2
    • 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.72
    •  
  • 2808 Candler Run Sw Marietta, GA 1
    • 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1992
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.69
    •  
  • 3258 Willa Way Sw Marietta, GA 3
    • 3 beds 2 baths ∙ 2,118 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,118 Sqft ∙ Built 1985
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
  • 2475 Smith Avenue Sw Marietta, GA 4
    • 4 beds 2 baths ∙ 2,208 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,208 Sqft ∙ Built 1985
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.77
    •  
  • 1960 Mceachern Manor Drive Sw Marietta, GA 5
    • 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1981
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
PROPERTY LISTING DETAILS
Mike Price
1.678.559.7826
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6812631
Last Updated: 12/05/2020
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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