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1083 Forest Heights Road Stone Mountain, GA 30083

5 Beds 3 Baths 2,224 sqft Built 1984

$275,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $123.65
  • 6 Days on Market
  • MLS # : 6843426
  • Updated Date : 02/25/2021 at 21:58
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,224 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

install New garage Doors New Epoxy Paint in the Garage New Hardwood floor in The1st Living room New Hardwood floor in 2nd living room New Kitchen floor New Kitchen cabinets New central AC with gas furnace New carpet in all the bedrooms New Gas water heater New Hardie Plank Fiber cement siding New roof gutter Roof 4 year old Outdoor Deck 4 Year old New Paint in and out side Remarkable Location! Close to Stone Mountain! Below Market Value - Excellent Elevation Nice Wide Angle Don't miss this single story home in Stone Mountain! This is highly renovated

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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 has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 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)
  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$955
Property Tax -$400
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$106

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.

$275,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.60%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$12,974

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,690

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,385
1$1,3852$1,5953$1,6504$1,800
$1,800
RENT COMPS ANALYSIS
  • 1083 Forest Heights Road Stone Mountain, GA 3
    • 5 beds 3 baths ∙ 2,224 Sqft ∙ Built 1984 5 beds 3 baths ∙ 2,224 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 5092 Stone Trace Stone Mountain, GA 1
    • 4 beds 3 baths ∙ 1,904 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,904 Sqft ∙ Built 1980
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $0.73
    •  
  • 4313 Executive Drive Stone Mountain, GA 2
    • 4 beds 2 baths ∙ 2,062 Sqft ∙ Built 1967 4 beds 2 baths ∙ 2,062 Sqft ∙ Built 1967
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
  • 1072 Norway Lane Clarkston, GA 4
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 1977
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
PROPERTY LISTING DETAILS
Muhammad Junaid
1.404.259.9211
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6843426
Last Updated: 02/25/2021
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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