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1193 Kelton Drive Stone Mountain, GA 30083

4 Beds 3 Baths 2,142 sqft Built 1980

$246,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $114.85
  • 15 Days on Market
  • MLS # : 6834322
  • Updated Date : 01/30/2021 at 13:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,142 sqft
  • Baths : 3 full
Listing Agent's Description

This two-story custom built home is very spacious on large lot. The property sits away from the road providing additional privacy. This floor plan boasts a separate dining room, living room, and more. The owner's suite is amazing, and includes gleaming hardwood floors with ample closet space. The home is convenient to US-78, several restaurants, a farmer's market, Stone Mountain Park, a bike path, Tucker, Lilburn, and Decatur. Come take a look around, fall in love and make an offer.

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: 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
 

$221,400$270,600$246,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$854
Property Tax -$358
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$40

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.

$246,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.59%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

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$70,940

INVESTMENT

$70,940

Down Payment
$61,500
Rehab Estimate
$5,750
Closing Costs
$3,690

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$854

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,500
Loan Amount $184,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$7,933

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,505

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3853$1,4404$1,4505$1,595
$1,595
RENT COMPS ANALYSIS
  • 1193 Kelton Drive Stone Mountain, GA 3
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.67
    •  
  • 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
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.58
    •  
  • 5092 Stone Trace Stone Mountain, GA 2
    • 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
    •  
  • 1078 New Gibraltar Square Stone Mountain, GA 4
    • 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 1986
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.73
    •  
  • 4313 Executive Drive Stone Mountain, GA 5
    • 4 beds 2 baths ∙ 2,062 Sqft ∙ Built 1967 4 beds 2 baths ∙ 2,062 Sqft ∙ Built 1967
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
PROPERTY LISTING DETAILS
Jenitha N Moore
1.470.213.0737
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6834322
Last Updated: 01/30/2021
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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