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3101 Chaparral Place Stonecrest, GA 30038

4 Beds 3 Baths 2,542 sqft Built 1978

$174,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $68.80
  • 4 Days on Market
  • MLS # : 6831284
  • Updated Date : 01/23/2021 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,542 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Great Deal in Growing Lithonia! House Priced below market for a quick sale! This spacious house boast 4 bedrooms and 2.5 baths with tons of space. Great Front, Side, and Backyard in a well established neighborhood. Nice Open Porch with 2 Car Garage. Huge living area that boast Fireplace as centerpiece with Eat in Kitchen and Formal Dining room. Has 2 get away areas in the house, Nice Open Basement Area that lead outside to 2 Car Garage and Enclosed Porch with tons of space. Property is being rented with a long term tenant. Great deal with Instant Equity.

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: 30038

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30038

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
Flat Rock Elementary School Primary Regular 1,057 64 2
Lithonia Middle School Middle Regular 1,158 71 2
Lithonia High School High Regular 1,315 77 3

Flat Rock Elementary School

  • Education Level: Primary
  • # of students: 1,057
  • # of teachers: 64
2
GreatSchools Rating

Lithonia Middle School

  • Education Level: Middle
  • # of students: 1,158
  • # of teachers: 71
2
GreatSchools Rating

Lithonia High School

  • Education Level: High
  • # of students: 1,315
  • # of teachers: 77
3
GreatSchools Rating
 

$157,410$192,390$174,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$608
Property Tax -$253
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
$505

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.

$174,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.89%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,099

INVESTMENT

$52,099

Down Payment
$43,725
Rehab Estimate
$5,750
Closing Costs
$2,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,725
Loan Amount $131,175
See What Happens When You Reinvest Cash Flow

15.17

YEARS SAVED

$44,196

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5603$1,900
$1,900
RENT COMPS ANALYSIS
  • 3101 Chaparral Place Stonecrest, GA 2
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.61
    •  
  • 2529 Meadow Brooke Court Lithonia, GA 1
    • 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1996
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.57
    •  
  • 2599 Field Spring Drive Lithonia, GA 3
    • 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 1996
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jeffery Reynolds
1.478.365.7432
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831284
Last Updated: 01/23/2021
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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