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696 Fairfield Drive Marietta, GA 30068

4 Beds 3 Baths 2,484 sqft Built 1973

$475,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $191.22
  • 10 Days on Market
  • MLS # : 6830200
  • Updated Date : 01/21/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,484 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Excellent renovation opportunity for a savvy investor or owner occupant who wants to customize and update this 4 BR ranch w/nice floor plan. Good "flip" candidate w/tons of possibilities. Current tenants leaving at the end of February so hurry if you want to capitalize on this price as the owner will start a complete renovation once the tenants are out (if not sold "as is"). Roof, water heater and HVAC less than 10 years old so the bulk of renovations are inside.

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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: Indian Hills Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $113k438k

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

Neighborhood: Indian Hills Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9732553

* 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
Mount Bethel Elementary School Primary Regular 1,027 66 9
Dickerson Middle School Middle Regular 1,261 72 10
Walton High School High Charter 2,674 139 9

Mount Bethel Elementary School

  • Education Level: Primary
  • # of students: 1,027
  • # of teachers: 66
9
GreatSchools Rating

Dickerson Middle School

  • Education Level: Middle
  • # of students: 1,261
  • # of teachers: 72
10
GreatSchools Rating

Walton High School

  • Education Level: High
  • # of students: 2,674
  • # of teachers: 139
9
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,650
Property Tax -$766
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
-$80

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.

$475,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.6%
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$1.0M$1.2M$1.4M

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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$13,917

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,254

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,2754$2,5005$2,530
$2,530
RENT COMPS ANALYSIS
  • 696 Fairfield Drive Marietta, GA 5
    • 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $1.02
    •  
  • 840 Muirfield Trace Marietta, GA 1
    • 3 beds 3 baths ∙ 2,632 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,632 Sqft ∙ Built 1984
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 4522 Lashley Court Ne Marietta, GA 2
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 1984
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 4488 Dobbs Crossing Marietta, GA 3
    • 3 beds 3 baths ∙ 2,463 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,463 Sqft ∙ Built 1987
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.92
    •  
  • 4533 Karls Gate Drive Marietta, GA 4
    • 4 beds 4 baths ∙ 2,656 Sqft ∙ Built 1976 4 beds 4 baths ∙ 2,656 Sqft ∙ Built 1976
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.94
    •  
PROPERTY LISTING DETAILS
Brian Mcdaniel
1.404.229.5388
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6830200
Last Updated: 01/21/2021
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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