Marietta Multi-Play! Split the 2 Properties to Flip or Keep as 2 1.3% Rentals! Sold

563 Kurtz Road, Marietta, GA 30066-5347

This is an awesome multi-strategy deal for flippers and rental investors alike! This property contains a main 1150 square feet 3 BR/1 BA house with an additional in law-suite of 750 square feet. Cosmetic rehab is needed to the main house and the in law suite is in turnkey condition if left as a 1BR/1 BA. There are a couple plays here:

1.  Flip 2 Side-by Side Properties.

Divide the property into 2 parcels, and fully rehab both properties.

Patriot Home Buyers spoke with Cobb County about the feasibility of splitting the parcel into 2 separate homes, and it is potentially doable with rezoning. In this case, finish the 750 square feet of the 2 car garage to make the property into a 3 BR/2 BA house at 1500 square feet.

The 3 BR/1 BA property would have an additional bath added at the same square footage and perform a cosmetic rehab to achieve top market value.

Comps:

1. 231 Arnold Avenue, Marietta, GA, 30066– renovated, sold 09/29/2022 at $395k
2. 2474 Chambers Drive, Marietta, GA,30066- renovated, sold 10/03/2022 at $386k
3. 445 Arnold Avenue, Marietta,GA,30066- renovated, closing 12/15/2022 at $349,900
4. 2344 Fox Drive, Marietta, GA,30066- non-renovated, sold 11/28/2022 at $339,500

2. Rent Both Properties at <1% Rule.

Comps in the area support both short and long term rentals.  Rent the 3 BR/1 BA 1150 sq. ft. as one rental, and the 1 BR/1 BA 750 sq. ft. loft as a high end rental to achieve >1% rule.

Long Term Rental Comps:

1. 640 Suholden Circle NE, Marietta, 30066- Rented at $2,195/month
2. 175 Kathryn Drive, Marietta,GA,30066-  Renting at $2,200/month
3. 1683 Grist Mill Drive, Marietta, GA,30062– Rented at $2,099/month
4. 2127 Oland Circle, Marietta, GA,30066– Rented at $2,000/month
5. 600 Elain Circle, Marietta, GA, 30066– Rented at $1,930/month

1 BR/1 BA High End Rental Comps:

1. 257 Chicopee Drive, Marietta,GA,30060– Off- Market, Rented at $2,500/month
2. 39 Trammell Street NW, Marietta,GA,30064- Off-Market, Rented at $1,700/month
3. 127 Atlanta Street SE, Marietta, GA, 30060- Off-Market, Rented at $1,650/month

Short Term Rental Comps:

There are 2 short term rentals that keep their listings continually active on the market and achieve high occupancy rates:

1.  577 Kurtz Road, Marietta, GA, 30066-  Short term rental at $5,950/month, 87% occupancy rate (verified by owner)
2. 491 Edward Court, Marietta, GA, 30066- Short term rental at $5,750/month, 90% occupancy rate (verified by owner)

SHOWING FRIDAY AFTERNOON. SCHEDULE YOUR INSPECTION TODAY  AT (404) 341-4606.