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4290 Cavan Drive Stone Mountain, GA 30083

4 Beds 2 Baths 2,108 sqft Built 1967

$230,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $109.11
  • 4 Days on Market
  • MLS # : 6855776
  • Updated Date : 03/19/2021 at 11:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,108 sqft
  • Baths : 2 full
Listing Agent's Description

This home is FABULOUS. Everything you have been looking for. Formal Living area, dining room, kitchen with tons of cabinet space that over looks the wonderful fenced in back yard. Upstairs offer 3 large bedrooms and a full bath. On the lower level you have a very spacious family room with fireplace and built in bookshelf's along with large bedroom, full bath and laundry room. Extra storage is located next to the 2 car carport. Hardwood floors and new roof. This home is a gem

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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
Jolly Elementary School Primary Regular 896 55 3
Freedom Middle School Middle Regular 1,240 71 4
Clarkston High School High Regular 1,544 103 4

Jolly Elementary School

  • Education Level: Primary
  • # of students: 896
  • # of teachers: 55
3
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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$799
Property Tax -$335
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$70

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.

$230,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.0%
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-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$9,522

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,296

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3003$1,3414$1,3905$1,400
$1,400
RENT COMPS ANALYSIS
  • 4290 Cavan Drive Stone Mountain, GA 4
    • 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 1967 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 1967
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.66
    •  
  • 451 Chartley Trail Stone Mountain, GA 1
    • 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1980
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.64
    •  
  • 4276 Rocking Chair Lane Stone Mountain, GA 2
    • 3 beds 2 baths ∙ 2,238 Sqft ∙ Built 1963 3 beds 2 baths ∙ 2,238 Sqft ∙ Built 1963
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.58
    •  
  • 4144 Rockbridge Heights Drive Stone Mountain, GA 3
    • 4 beds 3 baths ∙ 2,130 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,130 Sqft ∙ Built 1971
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,341
    • $0.63
    •  
  • 4657 Keighley Drive Stone Mountain, GA 5
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 1977
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.61
    •  
PROPERTY LISTING DETAILS
Karen Hall
1.770.912.8616
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6855776
Last Updated: 03/19/2021
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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