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1724 Rhonda Lane Stone Mountain, GA 30087

3 Beds 3 Baths 2,337 sqft Built 1970

$225,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1970
  • Price/Sqft : $96.28
  • 3 Days on Market
  • MLS # : 6806000
  • Updated Date : 11/07/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,337 sqft
  • Baths : 3 full
Listing Agent's Description

Investor special on an enormous nearly-half acre lot! With a few personal touches, you could transform this home into your own custom paradise! Includes a brick fireplace, spacious kitchen, and 3 full bathrooms! Fantastic location close to restaurants and shopping! Don't miss out on this gem, take a look today!

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

Neighborhood: Mountain Park

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $89k321k

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

Neighborhood: Mountain Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9082009

* 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
Mountain Park Elementary School Primary Regular 596 36 7
Trickum Middle School Middle Regular 1,987 108 8
Parkview High School High Regular 2,834 152 8

Mountain Park Elementary School

  • Education Level: Primary
  • # of students: 596
  • # of teachers: 36
7
GreatSchools Rating

Trickum Middle School

  • Education Level: Middle
  • # of students: 1,987
  • # of teachers: 108
8
GreatSchools Rating

Parkview High School

  • Education Level: High
  • # of students: 2,834
  • # of teachers: 152
8
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$830
Property Tax -$333
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$345

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$225,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
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$0.0$5.0k$10k$15k$20k

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

12

YEARS SAVED

$48,973

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,761

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6953$1,7004$1,750
$1,750
RENT COMPS ANALYSIS
  • 1724 Rhonda Lane Stone Mountain, GA 3
    • 3 beds 3 baths ∙ 2,337 Sqft ∙ Built 1970 3 beds 3 baths ∙ 2,337 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
  • 1579 Rockbridge Road Stone Mountain, GA 1
    • 3 beds 2 baths ∙ 2,061 Sqft ∙ Built 1959 3 beds 2 baths ∙ 2,061 Sqft ∙ Built 1959
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.73
    •  
  • 4705 Lincoln Way Sw Lilburn, GA 2
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1972
    LEASED 06/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.75
    •  
  • 1307 Arlene Court Lilburn, GA 4
    • 3 beds 3 baths ∙ 2,250 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,250 Sqft ∙ Built 1979
    LEASED 08/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
PROPERTY LISTING DETAILS
Tiffany Poldrugo
1.404.600.1615
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6806000
Last Updated: 11/07/2020
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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