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2443 E Piedmont Road Marietta, GA 30062

3 Beds 2 Baths 2,120 sqft Built 1963

$269,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $127.31
  • 4 Days on Market
  • MLS # : 6815005
  • Updated Date : 12/04/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,120 sqft
  • Baths : 2 full
Listing Agent's Description

Don’t miss this well maintained 3 bed/2 bath ranch in sought after Cobb County location! Huge family room with vaulted ceiling and wonderful screened porch! Dining room boasts stone fireplace and kitchen is large with built in desk area. Large backyard with workshop! Great opportunity!!

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 has 66.1% labor force participation rate higher than the national rate 62.8% (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).
  • #1 World’s Busiest Airport(Airports Council International, 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)

PRICE & RENT TRENDS

Zip Code: 30062

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k341k

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

Zip Code: 30062

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9732107

* 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
Kincaid Elementary School Primary Regular 732 51 8
Simpson Middle School Middle Regular 921 58 8
Sprayberry High School High Regular 1,761 104 7

Kincaid Elementary School

  • Education Level: Primary
  • # of students: 732
  • # of teachers: 51
8
GreatSchools Rating

Simpson Middle School

  • Education Level: Middle
  • # of students: 921
  • # of teachers: 58
8
GreatSchools Rating

Sprayberry High School

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

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

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$996
Property Tax -$427
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$190

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.

$269,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.67%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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 40% 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

7.83

YEARS SAVED

$32,179

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,945

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,8003$1,8454$1,8505$2,200
$2,200
RENT COMPS ANALYSIS
  • 2443 E Piedmont Road Marietta, GA 2
    • 3 beds 2 baths ∙ 2,120 Sqft ∙ Built 1963 3 beds 2 baths ∙ 2,120 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 2320 Post Creek Court Marietta, GA 1
    • 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1979
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 1654 Rex Drive Marietta, GA 3
    • 3 beds 3 baths ∙ 2,053 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,053 Sqft ∙ Built 1979
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.90
    •  
  • 2084 Tree Top Bend Marietta, GA 4
    • 3 beds 3 baths ∙ 1,923 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,923 Sqft ∙ Built 1976
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 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
Cindy C Dent
1.770.655.2412
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815005
Last Updated: 12/04/2020
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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