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441 Martindale Court Stone Mountain, GA 30088

4 Beds 3 Baths 1,951 sqft Built 1969

$235,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $120.45
  • 7 Days on Market
  • MLS # : 6827290
  • Updated Date : 01/22/2021 at 18:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,951 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

*Recently renovated 4 bedroom, 2.5 bath split level home*Kitchen was remodeled in 2019 with all new soft close cabinets, tile backsplash, quartz countertops, and stainless steel appliances*All bathrooms were also remodeled in 2019*Newer garage doors*updated light fixtures*Private back yard, culdesac lot

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: 30088

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $81k209k

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

Zip Code: 30088

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
Rockbridge Elementary School Primary Regular 428 27 4
Stone Mountain Middle School Middle Regular 918 63 3
Stone Mountain High School High Regular 1,062 68 3

Rockbridge Elementary School

  • Education Level: Primary
  • # of students: 428
  • # of teachers: 27
4
GreatSchools Rating

Stone Mountain Middle School

  • Education Level: Middle
  • # of students: 918
  • # of teachers: 63
3
GreatSchools Rating

Stone Mountain High School

  • Education Level: High
  • # of students: 1,062
  • # of teachers: 68
3
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$816
Property Tax -$342
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$58

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.

$235,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.8%
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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$8,928

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,385

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,324
1$1,3242$1,3503$1,4004$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 441 Martindale Court Stone Mountain, GA 4
    • 4 beds 3 baths ∙ 1,951 Sqft ∙ Built 1969 4 beds 3 baths ∙ 1,951 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.72
    •  
  • 774 Post Road Drive Stone Mountain, GA 1
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1979
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,324
    • $0.71
    •  
  • 5211 Selene Drive Stone Mountain, GA 2
    • 4 beds 3 baths ∙ 2,021 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,021 Sqft ∙ Built 1980
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.67
    •  
  • 743 Lost Creek Circle Stone Mountain, GA 3
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1977
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.77
    •  
  • 4940 Pine Hill Court E Stone Mountain, GA 5
    • 5 beds 4 baths ∙ 2,090 Sqft ∙ Built 1972 5 beds 4 baths ∙ 2,090 Sqft ∙ Built 1972
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.69
    •  
PROPERTY LISTING DETAILS
Amy Sadler
1.404.408.7129
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6827290
Last Updated: 01/22/2021
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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