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2704 Marisol Way Mcdonough, GA 30253

4 Beds 2 Baths 2,061 sqft Built 2006

$239,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $116.40
  • 1 Days on Market
  • MLS # : 6838540
  • Updated Date : 02/14/2021 at 00:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,061 sqft
  • Baths : 2 full
Listing Agent's Description

Beautiful move-in-ready ranch on the corner lot with views to the semi-private park. Backyard has a privacy fence. Trey ceilings in the dining and living rooms. Granite counter-tops in the kitchen with stainless steel appliances with lots of cabinets perfect for storage. Upstairs is a large bonus room perfect for a home office or play area. Owners Suite has a dual vanity. Home has a side car garage and a porch large enough for rocking chairs to enjoy a nice summer sunset while sipping on some sweet Georgia Tea!

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Park at Westridge

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k210k

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

Neighborhood: The Park at Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8171587

* 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
Luella Elementary School Primary Regular 662 39 5
Luella Middle School Middle Regular 792 47 5
Luella High School High Regular 1,389 82 5

Luella Elementary School

  • Education Level: Primary
  • # of students: 662
  • # of teachers: 39
5
GreatSchools Rating

Luella Middle School

  • Education Level: Middle
  • # of students: 792
  • # of teachers: 47
5
GreatSchools Rating

Luella High School

  • Education Level: High
  • # of students: 1,389
  • # of teachers: 82
5
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$833
Property Tax -$277
Property Insurance -$67
HOA -$33
Property Management Fees -$119
CASH FLOW
$231

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$239,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
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$800k

PROJECTED ANNUAL CASH FLOW

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

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$23,780

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,572

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5604$1,6655$1,800
$1,800
RENT COMPS ANALYSIS
  • 2704 Marisol Way Mcdonough, GA 3
    • 4 beds 2 baths ∙ 2,061 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,061 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.76
    •  
  • 605 Bourbon Street Mcdonough, GA 1
    • 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 1996
    property image
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 1074 Maria Drive Mcdonough, GA 2
    • 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 2000
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.71
    •  
  • 279 Magnaview Drive Mcdonough, GA 4
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2019
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.76
    •  
  • 1916 Gates Ferry Way Mcdonough, GA 5
    • 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 2003
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
PROPERTY LISTING DETAILS
Charlotte Fenn
1.404.803.3554
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6838540
Last Updated: 02/14/2021
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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