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385 Arnold Avenue Marietta, GA 30066

3 Beds 2 Baths 1,801 sqft Built 1963

INVESTimate

$250,000

List Price

$1,650

$1,485 - $1,815

Rent Est.

$266,800  ( +6.72%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $138.81
  • 7 Days on Market
  • MLS # : 6770817
  • Updated Date : 08/22/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,801 sqft
  • Baths : 2 full
Listing Agent's Description

Great all brick ranch with 2 outbuildings/workshops, a lien-to and more in the backyard! This 3 bedroom, 2 bath home has a living room/dining area, and a cozy family room with custom pine panels and a wood burning stove that can heat the entire home on cold winter days. The large den/playroom would make a great classroom/office. Nice screen porch in the back overlooks the large fenced yard that has two outbuilding/workshops(one with power run & water) and a lien to/covered shed with power. The roof is less than 2 years old, new gutters, newer HVAC and more.

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: Kings Wood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $89k282k

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

Neighborhood: Kings Wood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8631868

* 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
Bells Ferry Elementary School Primary Regular 688 44 8
Daniell Middle School Middle Regular 952 52 7
Sprayberry High School High Regular 1,761 104 7

Bells Ferry Elementary School

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 44
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,485$1,815$1,650

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$900k

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 $1,650
EXPENSES Loan Payment -$922
Property Tax -$396
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$151

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.

$250,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.66%

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$23,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,733

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,6504$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 385 Arnold Avenue Marietta, 4
    • 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 629 Bounty Drive Marietta, 1
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1960
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.98
    •  
  • 267 Mark Avenue Marietta, 2
    • 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1960
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 2485 Kenneth Street Marietta, 3
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1973
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 2415 Cajun Drive Marietta, 5
    • 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1974
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.03
    •  
PROPERTY LISTING DETAILS
Ursula Lowther
1.678.300.6141
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770817
Last Updated: 08/22/2020
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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