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3353 Spindletop Drive Nw Kennesaw, GA 30144

4 Beds 3 Baths 2,526 sqft Built 2000

$325,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $128.66
  • 3 Days on Market
  • MLS # : 6812409
  • Updated Date : 11/28/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,526 sqft
  • Baths : 2 full , 1 half

MARKET HIGHLIGHTS

  • 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)
  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,199
Property Tax -$287
Property Insurance -$76
HOA -$43
Property Management Fees -$119
CASH FLOW
$135

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.

$325,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.57%

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$32,511

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,850

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8603$1,8754$1,8755$1,900
$1,900
RENT COMPS ANALYSIS
  • 3353 Spindletop Drive Nw Kennesaw, GA 2
    • 4 beds 3 baths ∙ 2,526 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,526 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.74
    •  
  • 3618 Myrtlewood Court Nw Kennesaw, GA 1
    • 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2000
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.68
    •  
  • 2633 Myrtlewood Lane Nw Kennesaw, GA 3
    • 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2000
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.74
    •  
  • 3235 Citation Avenue Kennesaw, GA 4
    • 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1999
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.72
    •  
  • 2859 Donamire Lane Nw Kennesaw, GA 5
    • 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 2000
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
PROPERTY LISTING DETAILS
Altovise Dacosta Holloway
1.917.541.1133
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6812409
Last Updated: 11/28/2020
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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