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4246 Rue Saint Michel Stone Mountain, GA 30083

3 Beds 3 Baths 1,807 sqft Built 1970

INVESTimate

$210,000

List Price

$1,360

$1,224 - $1,496

Rent Est.

$228,795  ( +8.95%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1970
  • Price/Sqft : $116.21
  • 5 Days on Market
  • MLS # : 6771039
  • Updated Date : 08/23/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,807 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This spacious home in a quiet neighborhood is near public transportation, shops, and minutes from the highway. The home is a split level home, with a formal living room, separate dining room off the kitchen and a sunken family room with half bath for the family gatherings. The upper level has 3 bedrooms, the master is very spacious with full bath, bath in hall for the kids and guests, and 2 nice sized bedrooms. The home has a huge backyard with a deck. Seller is highly motivated to sell, BRING ALL OFFERS!

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30083

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $80k209k

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

Zip Code: 30083

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
Allgood Elementary School Primary Regular 647 41 4
Freedom Middle School Middle Regular 1,240 71 4
Clarkston High School High Regular 1,544 103 4

Allgood Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 41
4
GreatSchools Rating

Freedom Middle School

  • Education Level: Middle
  • # of students: 1,240
  • # of teachers: 71
4
GreatSchools Rating

Clarkston High School

  • Education Level: High
  • # of students: 1,544
  • # of teachers: 103
4
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$775
Property Tax -$305
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$99

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.

$210,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.95%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$13,467

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,364

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,2994$1,3605$1,550
$1,550
RENT COMPS ANALYSIS
  • 4246 Rue Saint Michel Stone Mountain, 4
    • 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.75
    •  
  • 4333 Crestridge Lane Stone Mountain, 1
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1983
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.76
    •  
  • 4021 Indian Lake Circle Stone Mountain, 2
    • 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 1956
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.70
    •  
  • 546 Hammett Drive Decatur, 3
    • 4 beds 2 baths ∙ 1,684 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,684 Sqft ∙ Built 1976
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.77
    •  
  • 3880 Springleaf Court Stone Mountain, 5
    • 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1986
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
PROPERTY LISTING DETAILS
Angela Emanuel
1.770.627.6911
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6771039
Last Updated: 08/23/2020
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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