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40 Morrison Street Nw Marietta, GA 30064

4 Beds 3 Baths 2,582 sqft Built 2011

$475,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $183.97
  • 5 Days on Market
  • MLS # : 6804498
  • Updated Date : 11/05/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,582 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Charming traditional home located four blocks from Marietta Square nestled in a neighborhood with a sense of community. Open floor plan features new hardwood floors on main, updated kitchen with new eat-in island and countertops-backsplash, stainless steel appliances, separate dining room, new redesigned fireplace and amazing pergola for outdoor living space. Spacious owner's suite includes sitting area, spa-like bath with dual vanities, tiled shower with framed glass and garden tub. Upstairs has an additional living space.

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: Brown's Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $82k440k

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

Neighborhood: Brown's Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $8172681

* 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
West Side Elementary School Primary Charter 520 37 8
Marietta Middle School Middle Charter 1,303 83 5
Marietta High School High Charter 2,061 132 5

West Side Elementary School

  • Education Level: Primary
  • # of students: 520
  • # of teachers: 37
8
GreatSchools Rating

Marietta Middle School

  • Education Level: Middle
  • # of students: 1,303
  • # of teachers: 83
5
GreatSchools Rating

Marietta High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 132
5
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,753
Property Tax -$451
Property Insurance -$77
HOA -$42
Property Management Fees -$119
CASH FLOW
-$131

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$475,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$9,532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,182

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,3103$2,310
$2,310
RENT COMPS ANALYSIS
  • 40 Morrison Street Nw Marietta, GA 3
    • 4 beds 3 baths ∙ 2,582 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,582 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.89
    •  
  • 126 Birch Hollow Trail Marietta, GA 1
    • 5 beds 3 baths ∙ 2,400 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,400 Sqft ∙ Built 1993
    LEASED 05/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
  • 1052 Laurel Valley Drive Sw Marietta, GA 2
    • 4 beds 3 baths ∙ 2,695 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,695 Sqft ∙ Built 1992
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.86
    •  
PROPERTY LISTING DETAILS
Linde Moore
1.404.819.1566
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6804498
Last Updated: 11/05/2020
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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