Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2174 Scarbrough Road Stone Mountain, GA 30088

3 Beds 2 Baths 1,292 sqft Built 1984

$157,000

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $121.52
  • 6 Days on Market
  • MLS # : 6829950
  • Updated Date : 01/21/2021 at 17:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,292 sqft
  • Baths : 2 full
Listing Agent's Description

Gorgeous 3 bedroom split-level on a spacious corner lot! Featuring many important upgrades, including the newly replaced roof (2016) and the newer HVAC (2019), enjoy the peace of mind of a home with great bones and components that will last. The family room boasts a cozy fireplace and a cathedral ceiling, great for relaxing and entertaining any occasion. The dining room and kitchen feature ceramic tile floors, providing an attractive setup that's easy to maintain.

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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
Panola Way Elementary School Primary Regular 863 53 2
Miller Grove Middle School Middle Regular 977 61 3
Miller Grove High School High Regular 1,551 83 4

Panola Way Elementary School

  • Education Level: Primary
  • # of students: 863
  • # of teachers: 53
2
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
 

$141,300$172,700$157,000

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$545
Property Tax -$228
Property Insurance -$52
HOA -$4
Property Management Fees -$119
CASH FLOW
$241

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.

$157,000

PROJECTED PRICE

$1,190

PROJECTED RENT

0.76%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$47,355

INVESTMENT

$47,355

Down Payment
$39,250
Rehab Estimate
$5,750
Closing Costs
$2,355

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$545

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $39,250
Loan Amount $117,750
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$23,875

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $999

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1903$1,2104$1,250
$1,250
RENT COMPS ANALYSIS
  • 2174 Scarbrough Road Stone Mountain, GA 2
    • 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $0.92
    •  
  • 2116 Scarbrough Road Stone Mountain, GA 1
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1984
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.72
    •  
  • 2063 Wellborn Close Lithonia, GA 3
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1984
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.80
    •  
  • 1352 Muirforest Drive Stone Mountain, GA 4
    • 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
    •  
PROPERTY LISTING DETAILS
Sharla Lowell
1.248.790.3635
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6829950
Last Updated: 01/21/2021
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.

BESbswy