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2504 Baysridge Drive Nw Kennesaw, GA 30152

3 Beds 2 Baths 1,815 sqft Built 1995

INVESTimate

$220,000

List Price

$1,620

$1,458 - $1,782

Rent Est.

$231,946  ( +5.43%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $121.21
  • 6 Days on Market
  • MLS # : 6770528
  • Updated Date : 08/25/2020 at 11:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,815 sqft
  • Baths : 2 full
Listing Agent's Description

RANCH house - 3 bedrooms & 2 bathrooms in sought after Marleigh Farm. Family room with vaulted ceiling and cozy fireplace. Master bath with dual vanities, soaking tub and separate shower, walk in closet. Convenient location - close to schools and shopping. Level lot, fenced in backyard with patio. 2-car garage. Estate owned - no disclosures.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Marleigh Farm

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Marleigh Farm

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8302009

* 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
Lewis Elementary School Primary Regular 704 52 6
Mcclure Middle School Middle Regular 1,119 64 8
Allatoona High School High Regular 1,820 93 9

Lewis Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 52
6
GreatSchools Rating

Mcclure Middle School

  • Education Level: Middle
  • # of students: 1,119
  • # of teachers: 64
8
GreatSchools Rating

Allatoona High School

  • Education Level: High
  • # of students: 1,820
  • # of teachers: 93
9
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$812
Property Tax -$194
Property Insurance -$62
HOA -$25
Property Management Fees -$119
CASH FLOW
$408

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.

$220,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.43%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

13.58

YEARS SAVED

$56,132

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,647

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4753$1,4954$1,6205$1,700
$1,700
RENT COMPS ANALYSIS
  • 2504 Baysridge Drive Nw Kennesaw, 4
    • 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.89
    •  
  • 3180 Tia Court Nw Kennesaw, 1
    • 3 beds 3 baths ∙ 1,736 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,736 Sqft ∙ Built 1988
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 3406 Owens Pass Nw Kennesaw, 2
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1988
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.91
    •  
  • 3351 Owens Brook Way Nw Kennesaw, 3
    • 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1986
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
  • 3552 Plum Creek Trail Kennesaw, 5
    • 3 beds 5 baths ∙ 1,762 Sqft ∙ Built 1993 3 beds 5 baths ∙ 1,762 Sqft ∙ Built 1993
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
Karen Grattafiori
1.404.754.9209
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770528
Last Updated: 08/25/2020
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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