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2981 Sutton Glen Marietta, GA 30062

4 Beds 4 Baths 2,172 sqft Built 1987

$350,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $161.14
  • 4 Days on Market
  • MLS # : 6835916
  • Updated Date : 02/12/2021 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,172 sqft
  • Baths : 2 full , 2 half
Listing Agent's Description

Beautiful, traditional home in Pope HS district. Open floor plan features a fireside, vaulted great room and formal dining room both with hardwood floors. The kitchen is open to the family room and has granite counters, white cabinets, stainless steel appliances. Guest room/office on the main level. Upstairs master suite with walk in closet & upgraded master bath featuring dual vanities, soaking tub and separate shower. Finished basement with bath and rec area. Large, fenced back yard. Important features: hardiplank siding, newer garage doors,

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: Sutton Glen

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k327k

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

Neighborhood: Sutton Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9732205

* 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
Murdock Elementary School Primary Regular 901 54 10
Dodgen Middle School Middle Regular 1,226 69 10
Pope High School High Regular 1,929 102 9

Murdock Elementary School

  • Education Level: Primary
  • # of students: 901
  • # of teachers: 54
10
GreatSchools Rating

Dodgen Middle School

  • Education Level: Middle
  • # of students: 1,226
  • # of teachers: 69
10
GreatSchools Rating

Pope High School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,216
Property Tax -$554
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$92

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.

$350,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.59%

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$21,453

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,058

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,980
1$1,9802$2,0503$2,0504$2,1005$2,300
$2,300
RENT COMPS ANALYSIS
  • 2981 Sutton Glen Marietta, GA 3
    • 4 beds 4 baths ∙ 2,172 Sqft ∙ Built 1987 4 beds 4 baths ∙ 2,172 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.94
    •  
  • 2464 Alston Drive Ne Marietta, GA 1
    • 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 1996
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.89
    •  
  • 2680 Timberline Road Marietta, GA 2
    • 5 beds 3 baths ∙ 2,238 Sqft ∙ Built 1976 5 beds 3 baths ∙ 2,238 Sqft ∙ Built 1976
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.92
    •  
  • 2994 Sutton Glen Marietta, GA 4
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1987
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 1527 Brookcliff Circle Marietta, GA 5
    • 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 1983
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
PROPERTY LISTING DETAILS
Karen L Koehne
1.404.513.0396
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6835916
Last Updated: 02/12/2021
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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