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1345 Orchard Park Drive Stone Mountain, GA 30083

2 Beds 2 Baths 1,181 sqft Built 2002

$125,000

List Price

$1,130

$1K - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $105.84
  • 6 Days on Market
  • MLS # : 6837809
  • Updated Date : 02/18/2021 at 17:23
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,181 sqft
  • Baths : 2 full
Listing Agent's Description

Wonderful Recently Renovated End Unit Condo with an open floor plan in a quiet community. This place is in Excellent Condition and Move-In Ready! Open Floor Plan w/Fireside Great Room and Separate Dining Room. French doors open to a private balcony. New carpet and flooring throughout the entire condo and Brand New Stainless Steel appliances in the kitchen. Each bedroom features a private bath and walk-in closet. Jogging and bike trails to Stone Mountain. Close to shops and restaurants. Minutes from I-285, Emory Village, Marta, DeKalb Farmers Market and Stone Mountain.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ponce

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $80k209k

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

Neighborhood: Ponce

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
Idlewood Elementary School Primary Regular 953 55 5
Tucker Middle School Middle Regular 1,259 80 6
Tucker High School High Regular 1,843 107 5

Idlewood Elementary School

  • Education Level: Primary
  • # of students: 953
  • # of teachers: 55
5
GreatSchools Rating

Tucker Middle School

  • Education Level: Middle
  • # of students: 1,259
  • # of teachers: 80
6
GreatSchools Rating

Tucker High School

  • Education Level: High
  • # of students: 1,843
  • # of teachers: 107
5
GreatSchools Rating
 

$112,500$137,500$125,000

PURCHASE PRICE

$1,017$1,243$1,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,130
EXPENSES Loan Payment -$434
Property Tax -$159
Property Insurance -$50
HOA -$175
Property Management Fees -$119
CASH FLOW
$192

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.

$125,000

PROJECTED PRICE

$1,130

PROJECTED RENT

0.90%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 3.5%
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$50k$100k$150k$200k$250k$300k$350k$400k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$38,875

INVESTMENT

$38,875

Down Payment
$31,250
Rehab Estimate
$5,750
Closing Costs
$1,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$434

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $31,250
Loan Amount $93,750
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$14,813

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,130

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,228

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,025
1$1,0252$1,1303$1,3954$1,500
$1,500
RENT COMPS ANALYSIS
  • 1345 Orchard Park Drive Stone Mountain, GA 2
    • 2 beds 2 baths ∙ 1,181 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,181 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,130
    • $0.96
    •  
  • 1324 Orchard Park Drive Stone Mountain, GA 1
    • 2 beds 2 baths ∙ 1,177 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,177 Sqft ∙ Built 2001
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.87
    •  
  • 2255 Dillard Crossing Tucker, GA 3
    • 2 beds 3 baths ∙ 1,196 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,196 Sqft ∙ Built 2004
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.17
    •  
  • 4056 Wildflower Lane Tucker, GA 4
    • 2 beds 2 baths ∙ 1,384 Sqft ∙ Built 1982 2 beds 2 baths ∙ 1,384 Sqft ∙ Built 1982
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
PROPERTY LISTING DETAILS
Eric Motes
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837809
Last Updated: 02/18/2021
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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