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626 Honeybear Lane Marietta, GA 30068

3 Beds 2 Baths 1,821 sqft Built 1964

$299,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $164.20
  • 1 Days on Market
  • MLS # : 6829384
  • Updated Date : 01/23/2021 at 23:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,821 sqft
  • Baths : 2 full
Listing Agent's Description

WELL MAINTAINED 4 SIDED BRICK RANCH IN THE MOST DESIRABLE SCHOOL DISTRICT IN EAST COBB COUNTY. THIS HOME IS A ONE OWNER HOME AND IS OWNED BY THE ESTATE. HOME IS BEING SOLD AS-IS. PERFECT OPPORTUNITY TO BUY THIS BEAUTIFUL HOME AND PUT YOUR JOANNA GAINES SPIN ON IT FOR A MODERN DAY FARMHOUSE. BASEMENT IS A BLANK CANVAS AND COULD BE FINISHED TO PROVIDE ADDITIONAL BEDROOMS, GAME ROOM, THEATRE, ETC. OTHER HOMES IN THE SAME NEIGHBORHOOD HAVE BEEN RENOVATED AND SELLING IN THE HIGH $300K's. DON'T MISS YOUR OPPORTUNITY TO SNAG THIS GEM BEFORE IT'S GONE.

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Neighborhood: Cobb Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Cobb Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Eastvalley Elementary School Primary Regular 712 50 8
East Cobb Middle School Middle Regular 1,223 78 6
Wheeler High School High Regular 2,117 128 8

Eastvalley Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 50
8
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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,039
Property Tax -$474
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$87

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.

$299,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 4.5%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$19,050

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,844

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7803$1,8004$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 626 Honeybear Lane Marietta, GA 2
    • 3 beds 2 baths ∙ 1,821 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,821 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.98
    •  
  • 1249 Ronnie Drive Marietta, GA 1
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1965
    property image
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 421 Wall Street Marietta, GA 3
    • 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 1973
    property image
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 2955 Sope Creek Drive Marietta, GA 4
    • 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1973
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 801 Mockingbird Lane Marietta, GA 5
    • 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1967
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.09
    •  
PROPERTY LISTING DETAILS
Melinda Fulmer
1.770.712.4144
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6829384
Last Updated: 01/23/2021
support@investimateroi.com

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