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2929 Major Court Stone Mountain, GA 30087

4 Beds 3 Baths 1,938 sqft Built 1979

$249,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $128.95
  • 17 Days on Market
  • MLS # : 6832795
  • Updated Date : 01/27/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,938 sqft
  • Baths : 3 full
Listing Agent's Description

Brand New Everything!! Recently renovated 4 bed | 3 bath split level home w/ gleaming hardwood floors, Custom soft-close cabinetry w/ Granite Countertops and beautiful finishes throughout! Awesome and spacious master suite features custom cabinetry, polished ceramic w/ Glass Stall shower! Lower lvl could be a teen suite! Outstanding floor-plan for a a growing family, big enough to potentially rent the lower portion of the home, no HOA rental restrictions! NEW: Windows, HVAC, ROOF, Water Heater, Bathrooms, Kitchen, Flooring and so much more!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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 World’s Busiest Airport(Airports Council International, 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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$868
Property Tax -$361
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$77

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.

$249,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.60%

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$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$12k

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$14,128

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,408

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2953$1,4254$1,490
$1,490
RENT COMPS ANALYSIS
  • 2929 Major Court Stone Mountain, GA 4
    • 4 beds 3 baths ∙ 1,938 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,938 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.77
    •  
  • 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
    •  
  • 5060 Conestoga Court Stone Mountain, GA 3
    • 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1985
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.69
    •  
PROPERTY LISTING DETAILS
Zachary Maxey
1.404.563.0732
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6832795
Last Updated: 01/27/2021
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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