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$775,000

For Sale - Active
4040 Summit Dr, Marietta, GA 30068
3 Beds
0 Baths
1,857 Square Feet
0.00 Acres Lot
Built in 1973
For Sale - Active
Units n/a
Checked: 12 hours ago
Updated: Jun 27, 2025 at 03:31AM

Investment Summary


Monthly Cash Flow
-$2,338
Cap Rate
2.5%
Cash-on-Cash Return
-15.7%
Debt Coverage Ratio
0.41
Internal Rate of Return (5 years)
-11.2%

Property Description


0.00 Acres Lot
Built in 1973
For Sale - Active
Units n/a

This home needs updating and with a vision could be 2025 stunning. HAVE TRIED TO OFFER SOME IDEAS AND CONCEPTS OF WHAT COULD BE of this captivating ranch home nestled in the heart of Indian Hills. Come make this three bedroom home with an unfinished basement your dream home. Updated colors on the house, a reworked front entry could be a good place to start. *** Lovely leaded glass doors invite you to a warm and relaxed home. The doors provide natural light and privacy. The Great Room features a wood burning stone fireplace with stone hearth; vaulted beamed ceiling, and newer wood floors. Change out the sliding glass door to the Screened Porch and large Deck with folding glass doors for a more easy of use and connectivity. A formal Dining Room could be a private Home Office or Den. *** The oversized Kitchen could use some updates...new 42 in wood cabinets; larger center island, and upgraded appliances would make any chef happy. Off the Kitchen is a Laundry Room and Side Deck, perfect for Dining Area and grilling. *** Down the center Hallway, you find The Primary Bedroom. Spacious space with Walk-in Closet that needs a closet professional. Add some transom windows for more natural light. The Primary Bath has been updated with his and her vanities with custom lighting, and a generous tile shower with glass enclosure. Another Walk-in Closet that needs a professional. There two additional Bedrooms on the main level and compartmented Bath. Each Bedroom have a vault ceiling. Off the Hallway is the stairway to the Lower Level. *** The lower level encompasses Large Space, Full Bath, Small Space, Storage Area, and Mechanicals. There are two doors leading out the lower level to outside. If finished the lower level could be large Gathering Space, Full Shower Bath, Small space could be craft/workshop, wine cellar...let your imagination take flight. *** Outdoor space includes Screened Porch, Wrap around Deck. Generous Backyard that could be landscaped with terraces and pool Side yard is perfect for an herb garden. *** Indian Hills is an outstanding location to shopping, entertainment, recreation, and highways. If you are interested in golf, Indian Hills Country Club is around the corner. Come see this outstanding home you can make your dream home now!

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Location


Property Details


Parking

  • Description: Garage
  • Details: Garage, Garage Door Opener, Kitchen Level
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Bath/Stubbed, Daylight, Exterior Entry, Full, Unfinished
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Wood
  • Roof Material: Composition

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 16104800420
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch, Traditional
  • Year Built: 1973

Tax Information

  • Annual Tax: $6,087

Utilities

  • Water & Sewer: Public
  • Heating: Forced Air, Natural Gas
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Cobb

Listing Details


Listed by:
Kathy Seger
Atlanta Communities
(770) 240-2005

Source:
Georgia MLS
MLS#: 10525965
Georgia MLS

Investment Summary


Monthly Cash Flow
-$2,338
Cap Rate
2.5%
Cash-on-Cash Return
-15.7%
Debt Coverage Ratio
0.41
Internal Rate of Return (5 years)
-11.2%

Purchase Details

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Purchase price:
$775,000
Amount financed:
-$620,000
Down payment:
$155,000
Closing costs:
$23,250
Rehab costs:
$0
Initial cash invested:
$178,250
Square feet:
1,857
Cost per square foot:
$417
Monthly rent per square foot:
$1.67

Financing Details

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Loan amount:
$620,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$3,970
Property tax:
$507
Insurance:
$217
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,694

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,100 $37,200
Vacancy loss: (6%)
6% -$186 -$2,232
Operating income:
$2,914 $34,968

Operating Expenses


% Rent Monthly Yearly
Property taxes: (16%)
16%-$507-$6,087
Insurance: (7%)
7%-$217-$2,604
Property management: (8%)
8%-$248-$2,976
Repairs & maintenance: (5%)
5%-$155-$1,860
Capital expenditures: (5%)
5%-$155-$1,860
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (41%)
41%-$1,282-$15,387

Cash Flow


Monthly Yearly
Net operating income:
$1,632 $19,584
Mortgage payments:
-$3,970 -$47,640
Cash flow:
$2,338 $28,056