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535 Salem Woods Drive Se Marietta, GA 30067

3 Beds 4 Baths 1,682 sqft Built 1985

$245,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $145.66
  • 4 Days on Market
  • MLS # : 6846038
  • Updated Date : 02/26/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,682 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

This gem; located in the desirable East Cobb Salem Woods community, won't last long! This multiple level unit feature stainless steel appliances, granite countertops, and gorgeous hardwoods throughout the main level! Every bedroom has an attached full bathroom and sits on a full finished basement! Enjoy outdoor living on your two decks or in your private, fenced backyard. Easy access to I-75 & I-285 and minutes from schools, shopping, dining, parks, The Battery/Truist Park, KSU, Chatt. Tech, & local Hospitals.

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: Salem Woods

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $94k282k

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

Neighborhood: Salem Woods

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9732276

* 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
Sedalia Park Elementary School Primary Charter 882 59 5
East Cobb Middle School Middle Regular 1,223 78 6
Wheeler High School High Regular 2,117 128 8

Sedalia Park Elementary School

  • Education Level: Primary
  • # of students: 882
  • # of teachers: 59
5
GreatSchools Rating

East Cobb Middle School

  • Education Level: Middle
  • # of students: 1,223
  • # of teachers: 78
6
GreatSchools Rating

Wheeler High School

  • Education Level: High
  • # of students: 2,117
  • # of teachers: 128
8
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$851
Property Tax -$388
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$372

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.

$245,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$42,644

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,901

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7904$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 535 Salem Woods Drive Se Marietta, GA 3
    • 3 beds 4 baths ∙ 1,682 Sqft ∙ Built 1985 3 beds 4 baths ∙ 1,682 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.06
    •  
  • 720 Gardenside Circle Se Marietta, GA 1
    • 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2000
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.15
    •  
  • 2271 Powers Ferry Drive Marietta, GA 2
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1967
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.15
    •  
  • 942 Bobcat Court Se Marietta, GA 4
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1984
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.17
    •  
  • 593 Lullingstone Drive Se Marietta, GA 5
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1997
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
PROPERTY LISTING DETAILS
Iconic Living Team
1.404.831.8501
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6846038
Last Updated: 02/26/2021
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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