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2904 Cottesford Way Se Smyrna, GA 30080

3 Beds 3 Baths 2,038 sqft Built 1999

$420,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $206.08
  • 8 Days on Market
  • MLS # : 6820654
  • Updated Date : 12/21/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,038 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This modern renovation in Smyrna has it all! Starting with a beautifully maintained neighborhood that's right across the street from the famed Fox Creek Golf Course and just minutes away from Truist Park! The home sits in a cul-de-sac with one of the largest corner lots in the neighborhood that gives you a lot of privacy. It includes a spacious living room with 22-foot ceilings and a beautiful fireplace! Upgraded kitchen with waterfall quartz countertops, refinished cabinets, and Samsung Smart Appliances.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Carrington Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $82k323k

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

Neighborhood: Carrington Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8172022

* 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
Smyrna Elementary School Primary Unknown 929 62 NA
Campbell Middle School Middle Regular 1,416 77 6
Campbell High School High Regular 2,509 135 5

Smyrna Elementary School

  • Education Level: Primary
  • # of students: 929
  • # of teachers: 62
NA
GreatSchools Rating

Campbell Middle School

  • Education Level: Middle
  • # of students: 1,416
  • # of teachers: 77
6
GreatSchools Rating

Campbell High School

  • Education Level: High
  • # of students: 2,509
  • # of teachers: 135
5
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,550
Property Tax -$425
Property Insurance -$67
HOA -$29
Property Management Fees -$119
CASH FLOW
-$69

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.

$420,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.50%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$10,847

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,283

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1203$2,495
$2,495
RENT COMPS ANALYSIS
  • 2904 Cottesford Way Se Smyrna, GA 2
    • 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.04
    •  
  • 2922 Cottesford Way Se Smyrna, GA 1
    • 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1999
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 164 Blakemore Drive Se Smyrna, GA 3
    • 3 beds 4 baths ∙ 2,059 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,059 Sqft ∙ Built 2015
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.21
    •  
PROPERTY LISTING DETAILS
Sunny Narshi
1.404.578.7653
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820654
Last Updated: 12/21/2020
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. © 2017 First Multiple Listing Service, Inc.

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