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824 Grindstone Court Marietta, GA 30060

3 Beds 2 Baths 1,413 sqft Built 1991

$260,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $184.01
  • 3 Days on Market
  • MLS # : 6818252
  • Updated Date : 12/12/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,413 sqft
  • Baths : 2 full
Listing Agent's Description

This must-see beautiful ranch home is move-in ready and sits on a corner lot of a cul de sac with a large fenced-in back yard that has a shed and Koi pond. The kitchen has been updated with granite counter tops, a gas stove, open to the family room. The master bathroom was completely renovated from top to bottom with a large walk-in closet! Guest Bathroom completely renovated beginning of 2020.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Westmill Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k282k

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

Neighborhood: Westmill Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8171868

* 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
Birney Elementary School Primary Regular 760 62 3
Floyd Middle School Middle Regular 935 54 4
Osborne High School High Regular 1,999 123 3

Birney Elementary School

  • Education Level: Primary
  • # of students: 760
  • # of teachers: 62
3
GreatSchools Rating

Floyd Middle School

  • Education Level: Middle
  • # of students: 935
  • # of teachers: 54
4
GreatSchools Rating

Osborne High School

  • Education Level: High
  • # of students: 1,999
  • # of teachers: 123
3
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$959
Property Tax -$412
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$34

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.

$260,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,604

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,402

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5003$1,5104$1,6005$1,795
$1,795
RENT COMPS ANALYSIS
  • 824 Grindstone Court Marietta, GA 3
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.07
    •  
  • 2885 Lakemont Place Sw Marietta, GA 1
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1974
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.98
    •  
  • 103 Radford Circle Sw Marietta, GA 2
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1989
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 2653 Windage Drive Sw Marietta, GA 4
    • 3 beds 3 baths ∙ 1,619 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,619 Sqft ∙ Built 1991
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 2585 Windage Drive Sw Marietta, GA 5
    • 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1992
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.03
    •  
PROPERTY LISTING DETAILS
Glen Stokes
1.404.987.3753
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6818252
Last Updated: 12/12/2020
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. © 2017 First Multiple Listing Service, Inc.

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