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4010 Scarlett Lane Nw Kennesaw, GA 30144

3 Beds 2 Baths 1,500 sqft Built 1974

$175,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $116.67
  • 3 Days on Market
  • MLS # : 6831465
  • Updated Date : 02/06/2021 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent's Description

Tenant not out in time - home available for showing Friday 5th after 3pm!!! HIGHEST & BEST by Sunday @5pm. 1 mile from Downtown Kennesaw and approx 2.5 miles from from Kennesaw State University. This homes has brand new Gray Kitchen Cabinets, New solid surface laminate counter tops. New Stainless Steel Fridge, Microwave and Electric Oven Range. Open Plan Living Room, Kitchen and Dining area with laminate wood flooring and the original wood burning furnace (not functional). Large back yard & deck. Daylight basement is lower level leading to 1 Car Garage & Carport.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30144

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30144

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8672009

* 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
Palmer Middle School Middle Regular 1,030 56 9
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

Palmer Middle School

  • Education Level: Middle
  • # of students: 1,030
  • # of teachers: 56
9
GreatSchools Rating

North Cobb High School

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

$157,500$192,500$175,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$608
Property Tax -$203
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$394

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.

$175,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.0%
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$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$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

14.58

YEARS SAVED

$42,089

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,380

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3803$1,4504$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 4010 Scarlett Lane Nw Kennesaw, GA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.92
    •  
  • 1634 Carrie Farm Lane Nw Kennesaw, GA 1
    • 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1987
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.94
    •  
  • 2002 Smith Drive Nw Kennesaw, GA 3
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1974
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 3531 North Avenue Nw Kennesaw, GA 4
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1962
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 3104 Nw Shirley Drive Nw Kennesaw, GA 5
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1973
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
PROPERTY LISTING DETAILS
Samantha Jones
1.770.344.8607
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831465
Last Updated: 02/06/2021
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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