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2476 Red Barn Road Marietta, GA 30064

3 Beds 2 Baths 1,716 sqft Built 1979

$169,999

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $99.07
  • 5 Days on Market
  • MLS # : 6807537
  • Updated Date : 11/13/2020 at 15:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,716 sqft
  • Baths : 2 full
Listing Agent's Description

Exciting home for first time home buyer or investor! Property features entry foyer, spacious living room/family room with fireplace and separate dining area. Kitchen offers ample storage space and eat in area. Private backyard features wooden deck perfect for entertaining friends and family. This is your chance to conveniently live near shopping/dinning, Kennesaw Mountain, and Six Flags White Water!

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)
  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Horseshoe Bend

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $97k282k

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

Neighborhood: Horseshoe Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9271868

* 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
 

$152,999$186,999$169,999

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$627
Property Tax -$313
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$390

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.

$169,999

PROJECTED PRICE

$1,510

PROJECTED RENT

0.89%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,500
Loan Amount $127,499
See What Happens When You Reinvest Cash Flow

13.92

YEARS SAVED

$45,024

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,510

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4503$1,4754$1,5005$1,510
$1,510
RENT COMPS ANALYSIS
  • 2476 Red Barn Road Marietta, GA 5
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.88
    •  
  • 2712 Horseshoe Creek Drive Sw Marietta, GA 1
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1989
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.89
    •  
  • 2498 Horseshoe Bend Road Sw Marietta, GA 2
    • 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1974
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
  • 2360 Rock Creek Drive Sw Marietta, GA 3
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1979
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.95
    •  
  • 2421 Shiloh Drive Marietta, GA 4
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1985
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Tim Hardeman
1.678.608.2546
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6807537
Last Updated: 11/13/2020
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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