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1056 Cedar Forest Court Stone Mountain, GA 30083

4 Beds 3 Baths 2,183 sqft Built 1983

$235,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $107.65
  • 14 Days on Market
  • MLS # : 6834073
  • Updated Date : 02/03/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,183 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Adorable, large, 4 bedroom home with tons of character and charm. Formal entry leads to a spacious family room with cathedral ceilings and wood burning fireplace. Separate dining room, eat in kitchen that leads to beautiful, enclosed sunroom. Oversized bedrooms up with full, finished first floor equipped with laundry room, game room/den, full bedroom and bathroom. Fenced in yard, two car garage in a sensational location, close to schools, shopping, I-285 and minutes to Stone Mountain.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30083

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $80k209k

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

Zip Code: 30083

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
Hambrick Elementary School Primary Regular 672 39 3
Stone Mountain Middle School Middle Regular 918 63 3
Stone Mountain High School High Regular 1,062 68 3

Hambrick Elementary School

  • Education Level: Primary
  • # of students: 672
  • # of teachers: 39
3
GreatSchools Rating

Stone Mountain Middle School

  • Education Level: Middle
  • # of students: 918
  • # of teachers: 63
3
GreatSchools Rating

Stone Mountain High School

  • Education Level: High
  • # of students: 1,062
  • # of teachers: 68
3
GreatSchools Rating
 

$211,500$258,500$235,000

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 -$816
Property Tax -$342
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$254

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.

$235,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.0%
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$200k$400k$600k$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$25,201

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
  • $0.73

    LIST RENT PER SQFT
  • $1,566

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,5493$1,5954$1,6005$1,800
$1,800
RENT COMPS ANALYSIS
  • 1056 Cedar Forest Court Stone Mountain, GA 4
    • 4 beds 3 baths ∙ 2,183 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,183 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 4276 Rocking Chair Lane Stone Mountain, GA 1
    • 3 beds 2 baths ∙ 2,238 Sqft ∙ Built 1963 3 beds 2 baths ∙ 2,238 Sqft ∙ Built 1963
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.58
    •  
  • 820 Waterbury Court Clarkston, GA 2
    • 3 beds 3 baths ∙ 2,082 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,082 Sqft ∙ Built 1990
    property image
    LEASED 11/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.74
    •  
  • 4313 Executive Drive Stone Mountain, GA 3
    • 4 beds 2 baths ∙ 2,062 Sqft ∙ Built 1967 4 beds 2 baths ∙ 2,062 Sqft ∙ Built 1967
    property image
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
  • 1072 Norway Lane Clarkston, GA 5
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 1977
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
PROPERTY LISTING DETAILS
Deborah Weiner
1.678.628.8865
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6834073
Last Updated: 02/03/2021
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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