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2989 Withers Way Sw Marietta, GA 30064

3 Beds 2 Baths 1,275 sqft Built 1985

$209,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $164.63
  • 3 Days on Market
  • MLS # : 6820133
  • Updated Date : 12/19/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,275 sqft
  • Baths : 2 full
Listing Agent's Description

Charming home on quiet cul-de-sac completely move-in ready! Clean, cool feel welcomes you in to large living area with central fireplace, bright kitchen, and open dining area! Extend living space outdoors with easy access to deck from dining. Spacious master bedroom and bath up with two other bedrooms and second full bath. Garage has plenty of room for 2 cars and storage. Backyard is level and private and has so much potential! All conveniences close by with no HOA and home remodels happening all around!

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)
  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Horseshoe Ridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $80k282k

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

Neighborhood: Horseshoe Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8101868

* 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
Hollydale Elementary School Primary Regular 689 57 5
Smitha Middle School Middle Regular 986 65 5
Osborne High School High Regular 1,999 123 3

Hollydale Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 57
5
GreatSchools Rating

Smitha Middle School

  • Education Level: Middle
  • # of students: 986
  • # of teachers: 65
5
GreatSchools Rating

Osborne High School

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

$188,910$230,890$209,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$774
Property Tax -$332
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$162

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.

$209,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.5%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,374

INVESTMENT

$61,374

Down Payment
$52,475
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$774

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,475
Loan Amount $157,425
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$18,578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,214

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2953$1,4404$1,4755$1,600
$1,600
RENT COMPS ANALYSIS
  • 2989 Withers Way Sw Marietta, GA 3
    • 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.13
    •  
  • 2712 Horseshoe Creek Drive Sw Marietta, GA 1
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1989
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.89
    •  
  • 2081 Redbud Court Sw Marietta, GA 2
    • 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 1971
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.94
    •  
  • 2360 Rock Creek Drive Sw Marietta, GA 4
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1979
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.95
    •  
  • 2698 Candler Drive Sw Marietta, GA 5
    • 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 1990
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
PROPERTY LISTING DETAILS
Drey Doty
1.404.984.1113
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820133
Last Updated: 12/19/2020
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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