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2680 Old Concord Road Smyrna, GA 30080

5 Beds 2 Baths 2,090 sqft Built 1962

$255,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $122.01
  • 3 Days on Market
  • MLS # : 6831197
  • Updated Date : 01/23/2021 at 08:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,090 sqft
  • Baths : 2 full
Listing Agent's Description

Renovation Special !! Spacious Home with Good Bones in a HOT Smyrna Area! Homes selling in the $500’s all around this house. Your Opportunity to purchase low, get into this great neighborhood, and renovate the way YOU want to with your style and taste! Lots of space, high ceilings, 5BR / 2Bath w separate Living Room, Den, and Laundry area. Open Plan connects Kitchen, Dining, and Living room - no need for extensive structural work. Super easy to add upscale 3rd Bathroom en suite to create a Master Bedroom Retreat. Must see, it won't last long!

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)
  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Kathleen Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Kathleen Place

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
Eastvalley Elementary School Primary Regular 712 50 8
East Cobb Middle School Middle Regular 1,223 78 6
Wheeler High School High Regular 2,117 128 8

Eastvalley Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 50
8
GreatSchools Rating

East Cobb Middle School

  • Education Level: Middle
  • # of students: 1,223
  • # of teachers: 78
6
GreatSchools Rating

Wheeler High School

  • Education Level: High
  • # of students: 2,117
  • # of teachers: 128
8
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$886
Property Tax -$292
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$426

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.

$255,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.5%
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$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

12.67

YEARS SAVED

$51,892

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,100

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,8503$1,9004$2,0255$2,495
$2,495
RENT COMPS ANALYSIS
  • 2680 Old Concord Road Marietta, GA 1
    • 5 beds 2 baths ∙ 2,090 Sqft ∙ Built 1962 5 beds 2 baths ∙ 2,090 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.86
    •  
  • 2955 Sope Creek Drive Marietta, GA 2
    • 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1973
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 2154 Pawnee Se Marietta, GA 3
    • 4 beds 3 baths ∙ 1,928 Sqft ∙ Built 1956 4 beds 3 baths ∙ 1,928 Sqft ∙ Built 1956
    property image
    LEASED 12/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
  • 2721 Georgian Court Marietta, GA 4
    • 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 1972
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.97
    •  
  • 493 Old Canton Road Marietta, GA 5
    • 4 beds 3 baths ∙ 2,265 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,265 Sqft ∙ Built 1977
    property image
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.10
    •  
PROPERTY LISTING DETAILS
Celine Higgins
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831197
Last Updated: 01/23/2021
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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