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120 Addy Lane Stockbridge, GA 30281

3 Beds 3 Baths 1,904 sqft Built 2006

$228,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $119.75
  • 3 Days on Market
  • MLS # : 6840119
  • Updated Date : 02/13/2021 at 03:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,904 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

HOME SWEET HOME! Don't miss another chance to live in beautiful Northbridge Crossing! This well maintained home features a huge 2 story Great Rm with new laminate floors and corner Fireplace, Dining Room, Kitchen w/Breakfast area, half bath, Master on the main with Walk in closet and Full Private Bath w/Dual vanity, Garden tub and Sep. Shower, Laundry Room and 2-car rear entry garage. Freshly painted through-out. Close to shopping, restaurants, schools and Interstates!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Northbridge Crossing

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Northbridge Crossing

NeighborhoodNIR 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
Smith-barnes Elementary School Primary Regular 272 20 3
Stockbridge Middle School Middle Regular 652 38 4
Stockbridge High School High Regular 1,442 84 5

Smith-barnes Elementary School

  • Education Level: Primary
  • # of students: 272
  • # of teachers: 20
3
GreatSchools Rating

Stockbridge Middle School

  • Education Level: Middle
  • # of students: 652
  • # of teachers: 38
4
GreatSchools Rating

Stockbridge High School

  • Education Level: High
  • # of students: 1,442
  • # of teachers: 84
5
GreatSchools Rating
 

$205,200$250,800$228,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$792
Property Tax -$282
Property Insurance -$64
HOA -$38
Property Management Fees -$119
CASH FLOW
$76

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.

$228,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.6%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,170

INVESTMENT

$66,170

Down Payment
$57,000
Rehab Estimate
$5,750
Closing Costs
$3,420

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$792

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,000
Loan Amount $171,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$10,106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,533

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,335
1$1,3352$1,3703$1,5104$1,5505$1,640
$1,640
RENT COMPS ANALYSIS
  • 120 Addy Lane Stockbridge, GA 2
    • 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.72
    •  
  • 276 Due West Drive Stockbridge, GA 1
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1994
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,335
    • $0.82
    •  
  • 909 Hollybrook Drive Stockbridge, GA 3
    • 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2005
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.80
    •  
  • 263 Northwind Drive Stockbridge, GA 4
    • 4 beds 3 baths ∙ 1,968 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,968 Sqft ∙ Built 1993
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 180 Addy Lane Stockbridge, GA 5
    • 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2019
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.81
    •  
PROPERTY LISTING DETAILS
Charles Cornwell Ll
1.804.475.9218
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6840119
Last Updated: 02/13/2021
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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