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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cobb Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$84,985
LOAN DETAILS
$1,039
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $74,750 |
| Loan Amount | $224,250 |
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
-
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
1.770.712.4144
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6829384
Last Updated: 01/23/2021
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.
