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2903 Montview Drive Sw Marietta, GA 30060

4 Beds 3 Baths 2,544 sqft Built 2003

$349,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $137.54
  • 5 Days on Market
  • MLS # : 6848450
  • Updated Date : 03/05/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,544 sqft
  • Baths : 3 full
Listing Agent's Description

Beautiful brick front house in excellent location. Completely renovated with new paint, new carpet, new granite countertops, new SS appliances.Vaulted fireside family room with separate dining room, hardwood floors, tiled bathrooms. Easy to maintain exterior, has architectural roof and hardieplank siding. Lower level has large rec room, bedroom and full bath. Spacious deck overlooks private, level backyard. This is a must see!

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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'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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Flowery Branch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k294k

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

Neighborhood: Flowery Branch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8171942

* 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
Birney Elementary School Primary Regular 760 62 3
Floyd Middle School Middle Regular 935 54 4
Osborne High School High Regular 1,999 123 3

Birney Elementary School

  • Education Level: Primary
  • # of students: 760
  • # of teachers: 62
3
GreatSchools Rating

Floyd Middle School

  • Education Level: Middle
  • # of students: 935
  • # of teachers: 54
4
GreatSchools Rating

Osborne High School

  • Education Level: High
  • # of students: 1,999
  • # of teachers: 123
3
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,215
Property Tax -$554
Property Insurance -$76
HOA -$27
Property Management Fees -$119
CASH FLOW
-$132

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.

$349,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,417

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,997

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,8003$1,8504$1,8605$1,995
$1,995
RENT COMPS ANALYSIS
  • 2903 Montview Drive Sw Marietta, GA 4
    • 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.73
    •  
  • 3093 Crest Ridge Circle Sw Marietta, GA 1
    • 4 beds 3 baths ∙ 2,221 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,221 Sqft ∙ Built 2003
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.72
    •  
  • 3038 Crest Ridge Circle Sw Marietta, GA 2
    • 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 2003
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 3098 Crest Ridge Circle Sw Marietta, GA 3
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2002
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 3411 Sandlake Drive Sw Marietta, GA 5
    • 3 beds 3 baths ∙ 2,406 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,406 Sqft ∙ Built 1996
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
PROPERTY LISTING DETAILS
Andrea Vladuti
1.000.000.0000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6848450
Last Updated: 03/05/2021
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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