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451 Lawrence Street Ne Marietta, GA 30060

3 Beds 2 Baths 2,122 sqft Built 1962

$428,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $201.70
  • 7 Days on Market
  • MLS # : 6843634
  • Updated Date : 02/23/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,122 sqft
  • Baths : 2 full
Listing Agent's Description

This Marietta one-story corner home offers granite countertops. This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Fort Hill - Roosevelt

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $67k282k

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

Neighborhood: Fort Hill - Roosevelt

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8161868

* 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
 

$385,200$470,800$428,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,487
Property Tax -$407
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$100

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.

$428,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 2.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,170

INVESTMENT

$119,170

Down Payment
$107,000
Rehab Estimate
$5,750
Closing Costs
$6,420

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,487

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,000
Loan Amount $321,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,748

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,016

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9803$2,0004$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 451 Lawrence Street Ne Marietta, GA 2
    • 3 beds 2 baths ∙ 2,122 Sqft ∙ Built 1962 3 beds 2 baths ∙ 2,122 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.93
    •  
  • 466 Henry Drive Sw Marietta, GA 1
    • 4 beds 3 baths ∙ 1,992 Sqft ∙ Built 1966 4 beds 3 baths ∙ 1,992 Sqft ∙ Built 1966
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
  • 400 S Hillcrest Drive Sw Marietta, GA 3
    • 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 1955 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 1955
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
  • 531 Sugar Hill Drive Nw Marietta, GA 4
    • 4 beds 2 baths ∙ 2,174 Sqft ∙ Built 1960 4 beds 2 baths ∙ 2,174 Sqft ∙ Built 1960
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
  • 484 S Woodland Drive Sw Marietta, GA 5
    • 3 beds 3 baths ∙ 2,397 Sqft ∙ Built 1956 3 beds 3 baths ∙ 2,397 Sqft ∙ Built 1956
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6843634
Last Updated: 02/23/2021
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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