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3329 Spindletop Drive Nw Kennesaw, GA 30144

5 Beds 4 Baths 2,844 sqft Built 1999

$370,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $130.10
  • 4 Days on Market
  • MLS # : 6833230
  • Updated Date : 01/29/2021 at 08:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,844 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

This Kennesaw two-story home offers granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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)
  • #1 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: Heritage Club

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Heritage Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9192009

* 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
Big Shanty Intermediate School Primary Regular 760 55 6
Awtrey Middle School Middle Regular 805 53 7
North Cobb High School High Regular 2,856 143 7

Big Shanty Intermediate School

  • Education Level: Primary
  • # of students: 760
  • # of teachers: 55
6
GreatSchools Rating

Awtrey Middle School

  • Education Level: Middle
  • # of students: 805
  • # of teachers: 53
7
GreatSchools Rating

North Cobb High School

  • Education Level: High
  • # of students: 2,856
  • # of teachers: 143
7
GreatSchools Rating
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,285
Property Tax -$327
Property Insurance -$82
HOA -$43
Property Management Fees -$119
CASH FLOW
-$17

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.

$370,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 4.6%
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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,548

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,977

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,840
1$1,8402$1,9003$1,9954$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 3329 Spindletop Drive Nw Kennesaw, GA 1
    • 5 beds 4 baths ∙ 2,844 Sqft ∙ Built 1999 5 beds 4 baths ∙ 2,844 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.65
    •  
  • 3645 Elmendorf Cove Nw Kennesaw, GA 2
    • 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 2001
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.69
    •  
  • 3219 Citation Avenue Kennesaw, GA 3
    • 4 beds 3 baths ∙ 2,855 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,855 Sqft ∙ Built 2001
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.70
    •  
  • 3172 Chapel Road Nw Kennesaw, GA 4
    • 4 beds 3 baths ∙ 2,906 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,906 Sqft ∙ Built 2003
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.69
    •  
  • 3817 Aspen Springs Nw Kennesaw, GA 5
    • 5 beds 3 baths ∙ 2,874 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,874 Sqft ∙ Built 2013
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.70
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6833230
Last Updated: 01/29/2021
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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