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1003 Willow Run Stone Mountain, GA 30088

4 Beds 3 Baths 2,256 sqft Built 1974

$219,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $97.47
  • 5 Days on Market
  • MLS # : 6832589
  • Updated Date : 01/28/2021 at 20:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,256 sqft
  • Baths : 3 full
Listing Agent's Description

Very well maintained 4 bedroom, 3 bath two story traditional home in the highly desirable Mainstreet subdivision of Stone Mountain. Home features a guest bedroom and full bath on the main level and 3 bedrooms and 2 baths upstairs. Owners bought in 78 and have made numerous updates and improvements over the years. Mainstreet is a swim/tennis Community that has 2 fishable lakes, a clubhouse, fitness center, walking trails, and 2 pavilion/playgrounds!

SEE MORE

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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)
  • #1 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Zip Code: 30088

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $81k209k

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

Zip Code: 30088

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Eldridge L. Miller Elementary School Primary Regular 574 36 2
Redan Middle School Middle Regular 762 53 4
Redan High School High Regular 1,107 66 3

Eldridge L. Miller Elementary School

  • Education Level: Primary
  • # of students: 574
  • # of teachers: 36
2
GreatSchools Rating

Redan Middle School

  • Education Level: Middle
  • # of students: 762
  • # of teachers: 53
4
GreatSchools Rating

Redan High School

  • Education Level: High
  • # of students: 1,107
  • # of teachers: 66
3
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$764
Property Tax -$320
Property Insurance -$71
HOA -$60
Property Management Fees -$119
CASH FLOW
$267

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.

$219,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.8%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$24,929

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,731

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6504$1,6955$1,895
$1,895
RENT COMPS ANALYSIS
  • 1003 Willow Run Stone Mountain, GA 2
    • 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 741 Guide Post Lane Stone Mountain, GA 1
    • 3 beds 4 baths ∙ 2,177 Sqft ∙ Built 1989 3 beds 4 baths ∙ 2,177 Sqft ∙ Built 1989
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.73
    •  
  • 1151 Martin Road Stone Mountain, GA 3
    • 5 beds 3 baths ∙ 2,100 Sqft ∙ Built 1971 5 beds 3 baths ∙ 2,100 Sqft ∙ Built 1971
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 1731 Fieldgreen Overlook Stone Mountain, GA 4
    • 5 beds 3 baths ∙ 2,213 Sqft ∙ Built 1977 5 beds 3 baths ∙ 2,213 Sqft ∙ Built 1977
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.77
    •  
  • 5328 Nader Court Stone Mountain, GA 5
    • 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 1991
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
PROPERTY LISTING DETAILS
Sanders Colson
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6832589
Last Updated: 01/28/2021
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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