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2363 Woodridge Drive Marietta, GA 30066

3 Beds 2 Baths 1,620 sqft Built 1964

$276,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $170.37
  • 3 Days on Market
  • MLS # : 6846746
  • Updated Date : 02/26/2021 at 16:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 2 full
Listing Agent's Description

This Marietta home has one story.

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: Fraser

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $89k321k

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

Neighborhood: Fraser

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8522009

* 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
Blackwell Elementary School Primary Regular 726 52 8
Daniell Middle School Middle Regular 952 52 7
Sprayberry High School High Regular 1,761 104 7

Blackwell Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 52
8
GreatSchools Rating

Daniell Middle School

  • Education Level: Middle
  • # of students: 952
  • # of teachers: 52
7
GreatSchools Rating

Sprayberry High School

  • Education Level: High
  • # of students: 1,761
  • # of teachers: 104
7
GreatSchools Rating
 

$248,400$303,600$276,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$959
Property Tax -$437
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$73

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.

$276,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.7%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$78,890

INVESTMENT

$78,890

Down Payment
$69,000
Rehab Estimate
$5,750
Closing Costs
$4,140

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,000
Loan Amount $207,000
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$6,865

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,640

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4954$1,5005$1,675
$1,675
RENT COMPS ANALYSIS
  • 2363 Woodridge Drive Marietta, GA 4
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 3021 Hacienda Court Marietta, GA 1
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1974
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.03
    •  
  • 2583 Cottonwood Drive Marietta, GA 2
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1962
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 2500 Cajun Drive Marietta, GA 3
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1974
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 2415 Cajun Drive Marietta, GA 5
    • 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1974
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.03
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6846746
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.

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