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3211 Holly Mill Run Marietta, GA 30062

4 Beds 3 Baths 2,300 sqft Built 1980

INVESTimate

$300,000

List Price

$1,870

$1,683 - $2,057

Rent Est.

$316,770  ( +5.59%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1980
  • Price/Sqft : $130.43
  • 45 Days on Market
  • MLS # : 6752081
  • Updated Date : 08/21/2020 at 12:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,300 sqft
  • Baths : 3 full
Listing Agent's Description

Contemporary style home in East Cobb. Top rated schools in Pope High School district. Lease purchase available.Home has 4br 3 ba/ open floor plan/ large family rm. w/ stone fireplace & vaulted ceiling. Dining rm. Kitchen w/ oak cabinets, granite counters,stove, dishwasher, microwave. Upstairs are 3 large bed & 2 full ba. Finished terrace w/ in law suite/ w/ family rm/ bedroom and full bath/Private back yard w/ deck. Home needs some TLC. Seller offering paint & carpet allowance. The A/C unit is 4 yrs old. Optional swim and tennis assoc. nearby. Thanks for showing!

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: Holly Springs Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Holly Springs Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,107
Property Tax -$508
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$64

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.

$300,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.59%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$20,368

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,007

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,870
1$1,8702$1,9003$1,9754$2,0505$2,200
$2,200
RENT COMPS ANALYSIS
  • 3211 Holly Mill Run Marietta, 1
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.81
    •  
  • 3430 Mark Hall Drive Ne Marietta, 2
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 1981
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
  • 1990 O Shea Lane Marietta, 3
    • 4 beds 2 baths ∙ 2,297 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,297 Sqft ∙ Built 1979
    property image
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.86
    •  
  • 3263 Holly Mill Run Marietta, 4
    • 4 beds 3 baths ∙ 2,102 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,102 Sqft ∙ Built 1980
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.98
    •  
  • 3185 Wicks Creek Trail Marietta, 5
    • 4 beds 3 baths ∙ 2,496 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,496 Sqft ∙ Built 1984
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Lucia C Brooks
1.404.803.0483
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6752081
Last Updated: 08/21/2020
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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