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$810,000

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: 8 hours ago
Updated: Jun 03, 2025 at 04:00AM

Investment Summary


Monthly Cash Flow
-$2,517
Cap Rate
2.4%
Cash-on-Cash Return
-16.2%
Debt Coverage Ratio
0.39
Internal Rate of Return (5 years)
-11.7%

Property Description


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

Peaceful Ranch Home on an Unfinished Basement in sought after Indian Hills. This one level home has three Bedrooms, two Baths on the main level with Screened Porch and Deck overlooking a private backyard. Home has some updates and ready for you to add your touched to make it your perfect place to call home. *** Lovely leaded front doors invite you to a warm and inviting home. Newer wood floors and generous rooms highlights the home. Enjoy the stacked stone fireplace in the Great Room with vaulted ceilings. Here you have a rare wood burning fireplace. The oversized Kitchen has newer stainless-steel appliances and generous Eating Area with space for a sizeable table. Off the Kitchen is a Laundry Room. Thel Dining Room could be used as an Office or Den. *** The Primary Bedroom is spacious with two large closets. Primary Bath has some updated with two vanities and walk-in shower. Two Additional Bedrooms with compartmented Hall Bath complete the main level of home. *** The Lower Terrace is unfinished with Full Bath stubbed. Create a media room and bedroom or wine tasting room and tv area. There is also a generous storage area. *** Off the Great Room the Screen Porch look over the private backyard. In addition, there is a Deck and Side Deck. *** Home is conveniently located in East Cobb to shopping, entertainment, and recreation. Great opportunity to be in Indian Hills for under $1m.

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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

Investment Summary


Monthly Cash Flow
-$2,517
Cap Rate
2.4%
Cash-on-Cash Return
-16.2%
Debt Coverage Ratio
0.39
Internal Rate of Return (5 years)
-11.7%

Purchase Details

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Purchase price:
$810,000
Amount financed:
-$648,000
Down payment:
$162,000
Closing costs:
$24,300
Rehab costs:
$0
Initial cash invested:
$186,300
Square feet:
1,857
Cost per square foot:
$436
Monthly rent per square foot:
$1.67

Financing Details

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Loan amount:
$648,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$4,149
Property tax:
$507
Insurance:
$217
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,873

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:
-$4,149 -$49,788
Cash flow:
$2,517 $30,204