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2654 Forest Glen Drive Ne Marietta, GA 30066

3 Beds 3 Baths 1,912 sqft Built 1986

$295,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $154.29
  • 4 Days on Market
  • MLS # : 6836686
  • Updated Date : 02/05/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,912 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 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Forest Chase

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Forest Chase

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Davis Elementary School Primary Regular 580 41 7
Mabry Middle School Middle Regular 890 54 9
Lassiter High School High Regular 2,131 118 10

Davis Elementary School

  • Education Level: Primary
  • # of students: 580
  • # of teachers: 41
7
GreatSchools Rating

Mabry Middle School

  • Education Level: Middle
  • # of students: 890
  • # of teachers: 54
9
GreatSchools Rating

Lassiter High School

  • Education Level: High
  • # of students: 2,131
  • # of teachers: 118
10
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,025
Property Tax -$467
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$5

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.

$295,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.0%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$11,910

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,706

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6153$1,6504$1,6705$1,750
$1,750
RENT COMPS ANALYSIS
  • 2654 Forest Glen Drive Ne Marietta, GA 4
    • 3 beds 3 baths ∙ 1,912 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,912 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.87
    •  
  • 4893 Hawk Trail Ne Marietta, GA 1
    • 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 1984
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 2845 Forest Wood Drive Ne Marietta, GA 2
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1984
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,615
    • $0.93
    •  
  • 2693 Hawk Drive Ne Marietta, GA 3
    • 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 1984
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 2716 Hawk Drive Ne Marietta, GA 5
    • 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1985
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6836686
Last Updated: 02/05/2021
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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