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2118 Skytop Drive Stone Mountain, GA 30087

4 Beds 3 Baths 2,852 sqft Built 1966

$329,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $115.36
  • 7 Days on Market
  • MLS # : 6806603
  • Updated Date : 11/10/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,852 sqft
  • Baths : 3 full
Listing Agent's Description

Mid century modern in amazing condition! Foyer & LR w/hardwoods lead to sunken family room w/ incredible brick fireplace & exposed beams; Formal Dr; Eat in kitchen w/ white cabinets & ample cabinet storage; Primary Suite w/ shower, separate vanity area & double closets; Basement features bar, 4th bed/office & full bath; laundry room; Plantation shutters; hardwoods under all carpet on the main floor; 2 carports; 2 outbuildings.

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Smoke Rise

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $89k321k

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

Neighborhood: Smoke Rise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9082307

* 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
Smoke Rise Elementary School Primary Charter 440 34 4
Tucker Middle School Middle Regular 1,259 80 6
Tucker High School High Regular 1,843 107 5

Smoke Rise Elementary School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 34
4
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
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,214
Property Tax -$419
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
$95

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.

$329,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.0%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$26,979

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,110

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9303$2,0004$2,000
$2,000
RENT COMPS ANALYSIS
  • 2118 Skytop Drive Stone Mountain, GA 2
    • 4 beds 3 baths ∙ 2,852 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,852 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.68
    •  
  • 1651 Howell Highlands Drive Stone Mountain, GA 1
    • 4 beds 3 baths ∙ 2,976 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,976 Sqft ∙ Built 1979
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.64
    •  
  • 5502 Leather Stocking Lane Smoke Rise, GA 3
    • 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 1965
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 5560 Rosser Road Stone Mountain, GA 4
    • 4 beds 3 baths ∙ 2,558 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,558 Sqft ∙ Built 1973
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
PROPERTY LISTING DETAILS
Heather Gentry Simon
1.404.936.7231
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6806603
Last Updated: 11/10/2020
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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