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3150 Mars Hill Road Nw Acworth, GA 30101

3 Beds 2 Baths 1,587 sqft Built 1973

$235,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $148.08
  • 4 Days on Market
  • MLS # : 6811042
  • Updated Date : 11/20/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,587 sqft
  • Baths : 2 full
Listing Agent's Description

Beautifully renovated home located in sought after Acworth!! Amazing school district! New paint, fixtures, and flooring throughout! The Kitchen features stone countertops, stainless appliances, white cabinetry, walk in pantry with laundry. Open concept living area! Spacious master suite with His/Hers Closets. Large secondary bedrooms. Completely renovated bathrooms. Large screened in patio overlooking a huge back yard. Home sits atop a full partially finished basement with potential for a fourth bed and bath, an in-law suite, home gym, the possibilities are endless!

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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Edgewood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $94k321k

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

Neighborhood: Edgewood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8202009

* 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
Frey Elementary School Primary Regular 740 48 7
Durham Middle School Middle Regular 1,064 62 9
Allatoona High School High Regular 1,820 93 9

Frey Elementary School

  • Education Level: Primary
  • # of students: 740
  • # of teachers: 48
7
GreatSchools Rating

Durham Middle School

  • Education Level: Middle
  • # of students: 1,064
  • # of teachers: 62
9
GreatSchools Rating

Allatoona High School

  • Education Level: High
  • # of students: 1,820
  • # of teachers: 93
9
GreatSchools Rating
 

$211,500$258,500$235,000

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 -$867
Property Tax -$260
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$136

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.

$235,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$27,123

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
  • $0.91

    LIST RENT PER SQFT
  • $1,381

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4403$1,500
$1,500
RENT COMPS ANALYSIS
  • 3150 Mars Hill Road Nw Acworth, GA 2
    • 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.91
    •  
  • 4586 Stewart Reilly Drive Nw Acworth, GA 1
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1990
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 4479 Whitt Station Run Nw Acworth, GA 3
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1990
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
PROPERTY LISTING DETAILS
Steven R Born
1.404.271.2676
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6811042
Last Updated: 11/20/2020
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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