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2859 London Court Ne Marietta, GA 30062

3 Beds 2 Baths 1,833 sqft Built 1973

$335,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $182.76
  • 4 Days on Market
  • MLS # : 6830693
  • Updated Date : 01/22/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,833 sqft
  • Baths : 2 full
Listing Agent's Description

Highly desirable brick ranch in sought after East Cobb location! Open the front door of this one-level home to find a wide open floorplan, perfect for entertaining friends and family. Sightlines from the den (currently used as a play area) into the fireside family room and separate dining area. Large kitchen has ample cabinetry and storage, beautiful granite countertops, stainless steel appliances, and a charming window seat. Sizable bar is perfect for serving or informal dining.

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: Ashford Pines

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Ashford Pines

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
Mountain View Elementary School Primary Regular 838 56 9
Hightower Trail Middle School Middle Regular 1,063 62 10
Pope High School High Regular 1,929 102 9

Mountain View Elementary School

  • Education Level: Primary
  • # of students: 838
  • # of teachers: 56
9
GreatSchools Rating

Hightower Trail Middle School

  • Education Level: Middle
  • # of students: 1,063
  • # of teachers: 62
10
GreatSchools Rating

Pope High School

  • Education Level: High
  • # of students: 1,929
  • # of teachers: 102
9
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,164
Property Tax -$531
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$24

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.

$335,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.6%
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

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$15,628

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,732

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6953$1,7754$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 2859 London Court Ne Marietta, GA 5
    • 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.04
    •  
  • 2961 Pathview Lane Marietta, GA 1
    • 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 1973
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 2998 Patten Drive Marietta, GA 2
    • 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 1985
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 3284 Rangers Gate Marietta, GA 3
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1979
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.94
    •  
  • 2783 Field Creek Court Ne Marietta, GA 4
    • 4 beds 2 baths ∙ 1,915 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,915 Sqft ∙ Built 1976
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
PROPERTY LISTING DETAILS
Austin R Landers
1.770.900.7493
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6830693
Last Updated: 01/22/2021
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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