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2351 Murdock Road Marietta, GA 30062

3 Beds 3 Baths 2,098 sqft Built 1988

$319,900

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $152.48
  • 5 Days on Market
  • MLS # : 6817358
  • Updated Date : 12/10/2020 at 09:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,098 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This is hard to find a Master with a private fireplace, and a bonus...Walk across the Street to Murdock Elementary. This very well maintained, private lot that sits back off the street with a nice long driveway, lined with trees, azaleas, and a turn around pad easy to enter and leave. This is move in ready with fresh paint, new flooring, a wonderful open floor plan, great size kitchen with granite, laundry on the main floor, and an awesome oversized screen porch. Excellent size master suite with its own fireplace, great size walk in closets, double vanities in the

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Brownstone

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k390k

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

Neighborhood: Brownstone

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9732271

* 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
Murdock Elementary School Primary Regular 901 54 10
Dodgen Middle School Middle Regular 1,226 69 10
Pope High School High Regular 1,929 102 9

Murdock Elementary School

  • Education Level: Primary
  • # of students: 901
  • # of teachers: 54
10
GreatSchools Rating

Dodgen Middle School

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

Pope High School

  • Education Level: High
  • # of students: 1,929
  • # of teachers: 102
9
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,180
Property Tax -$507
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$44

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.

$319,900

PROJECTED PRICE

$1,830

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,139

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,920

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8303$1,9254$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2351 Murdock Road Marietta, GA 2
    • 4 beds 4 baths ∙ 2,098 Sqft ∙ Built 1988 4 beds 4 baths ∙ 2,098 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.87
    •  
  • 2250 Cedar Forks Drive Marietta, GA 1
    • 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 1977
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 2647 Spencers Trace Ne Marietta, GA 3
    • 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 1977
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.88
    •  
  • 2994 Sutton Glen Marietta, GA 4
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1987
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 2584 Warwick Drive Marietta, GA 5
    • 4 beds 2 baths ∙ 2,258 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,258 Sqft ∙ Built 1972
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.97
    •  
PROPERTY LISTING DETAILS
Wendy R Bunch
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6817358
Last Updated: 12/10/2020
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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