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1509 Stoneleigh Hill Road Lithonia, GA 30058

3 Beds 3 Baths 1,487 sqft Built 1977

$195,900

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $131.74
  • 7 Days on Market
  • MLS # : 6821051
  • Updated Date : 12/22/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,487 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Only minutes away from local schools, this split-level 3 bedroom, 2.25 bathroom home in the Stoneleigh community of Lithonia is the one you've been searching for! Head downstairs to the kitchen, where you'll find tons of cupboard space and an adjacent area that is perfect for setting up a dinner table. Go upstairs with your coffee and relax by the stone fireplace in the loft, with high ceilings and windows where sunlight filters through the trees surrounding this enchanting property and pours into the home.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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).
  • #1 World’s Busiest Airport(Airports Council International, 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: 30058

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30058

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
Redan Elementary School Primary Regular 507 34 2
Redan Middle School Middle Regular 762 53 4
Redan High School High Regular 1,107 66 3

Redan Elementary School

  • Education Level: Primary
  • # of students: 507
  • # of teachers: 34
2
GreatSchools Rating

Redan Middle School

  • Education Level: Middle
  • # of students: 762
  • # of teachers: 53
4
GreatSchools Rating

Redan High School

  • Education Level: High
  • # of students: 1,107
  • # of teachers: 66
3
GreatSchools Rating
 

$176,310$215,490$195,900

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$723
Property Tax -$284
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$118

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.

$195,900

PROJECTED PRICE

$1,300

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,664

INVESTMENT

$57,664

Down Payment
$48,975
Rehab Estimate
$5,750
Closing Costs
$2,939

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$723

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,975
Loan Amount $146,925
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$14,809

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,160

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,125
1$1,1252$1,2503$1,3004$1,3405$1,392
$1,392
RENT COMPS ANALYSIS
  • 1509 Stoneleigh Hill Road Lithonia, GA 3
    • 3 beds 3 baths ∙ 1,487 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,487 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.87
    •  
  • 1418 Jon Juca Court Stone Mountain, GA 1
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1968
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $0.83
    •  
  • 1352 Muirforest Drive Stone Mountain, GA 2
    • 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1984
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.80
    •  
  • 1716 Tree Line Road Lithonia, GA 4
    • 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 1975
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.73
    •  
  • 5712 Albans Way Lithonia, GA 5
    • 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 1979
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,392
    • $0.76
    •  
PROPERTY LISTING DETAILS
Michelle Sanders
1.678.884.7933
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6821051
Last Updated: 12/22/2020
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. © 2017 First Multiple Listing Service, Inc.

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