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35 Briar Gate Lane Marietta, GA 30066

3 Beds 3 Baths 1,584 sqft Built 1986

INVESTimate

$234,900

List Price

$1,570

$1,413 - $1,727

Rent Est.

$250,685  ( +6.72%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $148.30
  • 2 Days on Market
  • MLS # : 6772080
  • Updated Date : 08/25/2020 at 19:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,584 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

MOVE IN READY. CHARMING 3 BEDS/2.5 BATHS W/ OVERSIZE 2-CAR GARAGE LOCATED IN PRIME LOCATION, IN SPRAYBERRY HS DIST.VAULTED CEILING IN LIVING ROOM W/TILE ENTRANCE; EAT-IN AREA OFF KITCHEN W/BREAKFAST BAR & GRANITE COUNTERTOP IS TILED W/PATIO ACCESS. DINING ROOM TO OVERLOOKING GREAT FAMILY ROOM W/STONE FIREPLACE, NEW LAMINATE WOOD FLOORING. FENCED-IN BACKYARD. FRONT COVERED PATIO.NEWER PAINT INSIDE; ROOF/SIDING ARE APPROX 6 YEARS OLD. NO HOA. CLOSE TO TOWNE CENTER MALL, KSU. EASY ACCESS TO 575, 75. BEST SHOPPING & DINING CHOICES THAT COBS CNTY CAN OFFER.

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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: Big Shanty Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $96k282k

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

Neighborhood: Big Shanty Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8901868

* 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
Chalker Elementary School Primary Regular 668 45 8
Daniell Middle School Middle Regular 952 52 7
Sprayberry High School High Regular 1,761 104 7

Chalker Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 45
8
GreatSchools Rating

Daniell Middle School

  • Education Level: Middle
  • # of students: 952
  • # of teachers: 52
7
GreatSchools Rating

Sprayberry High School

  • Education Level: High
  • # of students: 1,761
  • # of teachers: 104
7
GreatSchools Rating
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$867
Property Tax -$372
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$155

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.

$234,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.72%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

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 $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$23,487

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,564

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4503$1,5054$1,5705$1,795
$1,795
RENT COMPS ANALYSIS
  • 35 Briar Gate Lane Marietta, 4
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.99
    •  
  • 9 Hartley Woods Drive Ne Kennesaw, 1
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1984
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.96
    •  
  • 86 Brookhaven Drive Marietta, 2
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1966
    LEASED 04/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.98
    •  
  • 19 Briar Gate Lane Marietta, 3
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1986
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,505
    • $1.01
    •  
  • 2499 Lakebrooke Drive Marietta, 5
    • 3 beds 3 baths ∙ 1,790 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,790 Sqft ∙ Built 1999
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jennifer Ho
1.470.377.3233
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6772080
Last Updated: 08/25/2020
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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