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2352 Rockwood Way Stone Mountain, GA 30087

4 Beds 3 Baths 2,441 sqft Built 1976

$245,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $100.37
  • 5 Days on Market
  • MLS # : 6822799
  • Updated Date : 01/01/2021 at 16:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,441 sqft
  • Baths : 3 full
Listing Agent's Description

Great location and layout with the charm of an established Gwinnett neighborhood. If you want a property with great potential, fantastic bones and a newer HVAC, look no further. This home offers beautiful hardwood floors, Master and two more bedrooms on main. The upgraded kitchen offers beautiful countertops, breakfast nook, double oven and crafted cabinets. Spacious living and dining room, a separate family room with charming brick wall and fireplace. Upstairs, a full bathroom, a bedroom and a bonus room that is ideal as a nursery, office or media room.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30087

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $89k209k

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

Zip Code: 30087

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9081650

* 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
Annistown Elementary School Primary Regular 601 44 7
Shiloh Middle School Middle Regular 1,844 112 6
Shiloh High School High Regular 2,238 126 4

Annistown Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 44
7
GreatSchools Rating

Shiloh Middle School

  • Education Level: Middle
  • # of students: 1,844
  • # of teachers: 112
6
GreatSchools Rating

Shiloh High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 126
4
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$904
Property Tax -$354
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
$288

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.

$245,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$40,046

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,937

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,740
1$1,7402$1,8453$2,0004$2,090
$2,090
RENT COMPS ANALYSIS
  • 2352 Rockwood Way Stone Mountain, GA 1
    • 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.71
    •  
  • 2625 Kinnett Drive Sw Lilburn, GA 2
    • 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 1979
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.70
    •  
  • 808 Malvern Boulevard Stone Mountain, GA 3
    • 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 1993
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 509 Breakwater Terrace Stone Mountain, GA 4
    • 5 beds 4 baths ∙ 2,626 Sqft ∙ Built 1987 5 beds 4 baths ∙ 2,626 Sqft ∙ Built 1987
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.80
    •  
PROPERTY LISTING DETAILS
Mark Spain
1.770.886.9000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6822799
Last Updated: 01/01/2021
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. © 2017 First Multiple Listing Service, Inc.

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