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2364 June Springs Drive Sw Marietta, GA 30008

3 Beds 3 Baths 2,103 sqft Built 1992

$287,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $136.47
  • 8 Days on Market
  • MLS # : 6831851
  • Updated Date : 01/25/2021 at 10:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,103 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This Marietta two-story home offers a two-car garage. This home is vacant and cleaned regularly.

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: Cumberland Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k282k

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

Neighborhood: Cumberland Creek

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
Dowell Elementary School Primary Regular 887 68 6
Smitha Middle School Middle Regular 986 65 5
Osborne High School High Regular 1,999 123 3

Dowell Elementary School

  • Education Level: Primary
  • # of students: 887
  • # of teachers: 68
6
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
 

$258,300$315,700$287,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$997
Property Tax -$455
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$8

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.

$287,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.4%
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$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

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$81,805

INVESTMENT

$81,805

Down Payment
$71,750
Rehab Estimate
$5,750
Closing Costs
$4,305

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,750
Loan Amount $215,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$5,932

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,756

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6303$1,7504$1,7605$1,875
$1,875
RENT COMPS ANALYSIS
  • 2364 June Springs Drive Sw Marietta, GA 2
    • 3 beds 3 baths ∙ 2,103 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,103 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.78
    •  
  • 1431 Milford Church Road Sw Marietta, GA 1
    • 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 1972
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 1960 Mceachern Manor Drive Sw Marietta, GA 3
    • 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
    •  
  • 1321 Fairridge Circle Sw Marietta, GA 4
    • 3 beds 2 baths ∙ 2,150 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,150 Sqft ∙ Built 1989
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.82
    •  
  • 2090 Moccasin Way Sw Marietta, GA 5
    • 3 beds 3 baths ∙ 2,194 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,194 Sqft ∙ Built 1981
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.85
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831851
Last Updated: 01/25/2021
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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