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905 Augusta Drive Se Marietta, GA 30067

2 Beds 2 Baths 1,244 sqft Built 1982

$160,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $128.62
  • 3 Days on Market
  • MLS # : 6856101
  • Updated Date : 03/20/2021 at 08:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,244 sqft
  • Baths : 2 full
Listing Agent's Description

Perfect for FHA buyer or investor! Large corner top floor unit! Quick access to SunTrust Park, Life University, KSU, Shopping, future IKEA, 2 mins to I-75, 20 mins to downtown. Unit has new carpet throughout. Features include open floorplan, Sun Room, and Great Room. Well run HOA with low dues and No Rental Restrictions, plus a community pool for your enjoyment! FHA Approved! A must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: St. Augustine Place

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280kPrice in $49k282k

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

Neighborhood: St. Augustine Place

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8172276

* 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
Lockheed Elementary School Primary Charter 955 67 3
Marietta Middle School Middle Charter 1,303 83 5
Marietta High School High Charter 2,061 132 5

Lockheed Elementary School

  • Education Level: Primary
  • # of students: 955
  • # of teachers: 67
3
GreatSchools Rating

Marietta Middle School

  • Education Level: Middle
  • # of students: 1,303
  • # of teachers: 83
5
GreatSchools Rating

Marietta High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 132
5
GreatSchools Rating
 

$144,000$176,000$160,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$556
Property Tax -$152
Property Insurance -$51
HOA -$254
Property Management Fees -$119
CASH FLOW
$248

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.

$160,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.3%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,150

INVESTMENT

$48,150

Down Payment
$40,000
Rehab Estimate
$5,750
Closing Costs
$2,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$556

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $40,000
Loan Amount $120,000
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$20,430

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,555

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3803$1,675
$1,675
RENT COMPS ANALYSIS
  • 905 Augusta Drive Se Marietta, GA 2
    • 2 beds 2 baths ∙ 1,244 Sqft ∙ Built 1982 2 beds 2 baths ∙ 1,244 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.11
    •  
  • 1312 Kasandra Drive Se Marietta, GA 1
    • 2 beds 1 baths ∙ 936 Sqft ∙ Built 1962 2 beds 1 baths ∙ 936 Sqft ∙ Built 1962
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.28
    •  
  • 586 Salem Woods Drive Se Marietta, GA 3
    • 2 beds 4 baths ∙ 1,369 Sqft ∙ Built 1984 2 beds 4 baths ∙ 1,369 Sqft ∙ Built 1984
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.22
    •  
PROPERTY LISTING DETAILS
Matthew Nicklin
1.678.668.6526
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6856101
Last Updated: 03/20/2021
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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