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1760 Wedgewood Overlook Stone Mountain, GA 30088

4 Beds 3 Baths 2,096 sqft Built 1990

$265,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $126.43
  • 3 Days on Market
  • MLS # : 6843071
  • Updated Date : 02/26/2021 at 12:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,096 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

A Beautiful Stone Mountain home just right for any kind of buyer and a First Time Home Buyers Dream! This home is the gift that keeps on giving, agents thank me later. A 4br/2.5 bath, with gorgeous fenced back yard, sitting in a private cul-de-sac and just minutes away from everything your heart desires. You will have access to golfing, parks, gyms, playgrounds, grocery stores and 2 Major Hwys. On family days out you can hop on over to Stone Mountain Park or just stay in and enjoy the beautiful backyard entertainment. Any way you put it THIS IS THE ONE!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30088

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $81k209k

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

Zip Code: 30088

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
Woodridge Elementary School Primary Regular 585 34 4
Miller Grove Middle School Middle Regular 977 61 3
Miller Grove High School High Regular 1,551 83 4

Woodridge Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 34
4
GreatSchools Rating

Miller Grove Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 61
3
GreatSchools Rating

Miller Grove High School

  • Education Level: High
  • # of students: 1,551
  • # of teachers: 83
4
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$920
Property Tax -$386
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$133

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.

$265,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.8%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,501

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,483

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,353
1$1,3532$1,3603$1,4994$1,5505$1,695
$1,695
RENT COMPS ANALYSIS
  • 1760 Wedgewood Overlook Stone Mountain, GA 2
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.65
    •  
  • 1614 Devon Court Stone Mountain, GA 1
    • 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1972
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,353
    • $0.66
    •  
  • 4837 Terrace Green Trace Stone Mountain, GA 3
    • 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1990
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.67
    •  
  • 4321 Cedar Ridge Trail Stone Mountain, GA 4
    • 4 beds 2 baths ∙ 2,125 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,125 Sqft ∙ Built 1973
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.73
    •  
  • 1731 Fieldgreen Overlook Stone Mountain, GA 5
    • 5 beds 3 baths ∙ 2,213 Sqft ∙ Built 1977 5 beds 3 baths ∙ 2,213 Sqft ∙ Built 1977
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.77
    •  
PROPERTY LISTING DETAILS
Stacey Thompson
1.770.309.1428
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6843071
Last Updated: 02/26/2021
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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