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1754 Rhonda Lane Stone Mountain, GA 30087

4 Beds 3 Baths 1,716 sqft Built 1971

$240,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $139.86
  • 4 Days on Market
  • MLS # : 6848170
  • Updated Date : 03/06/2021 at 13:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,716 sqft
  • Baths : 3 full
Listing Agent's Description

Beautifully maintained 4BR /3BA ranch home on a fenced .42 acre lot! Situated on a quiet cul de sac street, this home is located in the Parkview HS district/ Gwinnett Cty Schools. Easy one-level living with so much space. Bright sun-filled Living/Dining room is perfect for parties and dinners. Cozy Family Room opens to the backyard & deck. A spacious kitchen offers lots of white cabinets, gas cooking with plenty of counter space; plus an eat-in breakfast area. Full sized laundry room is just off the kitchen with even more space for storage.

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: 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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$834
Property Tax -$347
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$10

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.

$240,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.56%

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$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$9,765

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,270

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2953$1,3504$1,500
$1,500
RENT COMPS ANALYSIS
  • 1754 Rhonda Lane Stone Mountain, GA 3
    • 4 beds 3 baths ∙ 1,716 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,716 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.79
    •  
  • 5231 Vivid Drive Stone Mountain, GA 1
    • 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 1966
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.74
    •  
  • 2210 Rockbridge Road Stone Mountain, GA 2
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1959
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.75
    •  
  • 1579 Rockbridge Road Stone Mountain, GA 4
    • 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
    •  
PROPERTY LISTING DETAILS
Patty Keller
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6848170
Last Updated: 03/06/2021
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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