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4530 Ripplewood Drive Stonecrest, GA 30038

3 Beds 2 Baths 1,690 sqft Built 1971

INVESTimate

$214,900

List Price

$1,220

$1,098 - $1,342

Rent Est.

$231,942  ( +7.93%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $127.16
  • 8 Days on Market
  • MLS # : 6750142
  • Updated Date : 08/22/2020 at 22:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,690 sqft
  • Baths : 2 full
Listing Agent's Description

Back On The Market due to Buyer unable to obtain financing. This beautifully renovated 4-sided brick ranch home has a great open floorplan and sits on a large half acre lot in a quiet established neighborhood of Stonecrest. The original hardwood floors have been handsomely restored and run throughout the main level. Upon entering you will have sight lines to the fireside family room, living area, dining room and the fabulous kitchen with brand new white cabinetry, granite countertops, tiled glass backsplash and stainless steel appliances.

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: 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
Browns Mill Elementary School Primary Regular 712 40 2
Salem Middle School Middle Regular 1,095 68 3
Martin Luther King, Junior High School High Regular 1,668 93 3

Browns Mill Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 40
2
GreatSchools Rating

Salem Middle School

  • Education Level: Middle
  • # of students: 1,095
  • # of teachers: 68
3
GreatSchools Rating

Martin Luther King, Junior High School

  • Education Level: High
  • # of students: 1,668
  • # of teachers: 93
3
GreatSchools Rating
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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 $1,220
EXPENSES Loan Payment -$793
Property Tax -$310
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$62

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.

$214,900

PROJECTED PRICE

$1,220

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.93%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$3,490

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,284

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,220
1$1,2202$1,2643$1,2754$1,2955$1,395
$1,395
RENT COMPS ANALYSIS
  • 4530 Ripplewood Drive Stonecrest, 1
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.72
    •  
  • 3641 Londonderry Court Lithonia, 2
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1984
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,264
    • $0.78
    •  
  • 3376 Moravia Drive Lithonia, 3
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1972
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.75
    •  
  • 4560 Old Lake Drive Decatur, 4
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1987
    LEASED 05/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.79
    •  
  • 3636 Belmont Abbey Drive Decatur, 5
    • 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 1975 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 1975
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.72
    •  
PROPERTY LISTING DETAILS
Tomika Skanes
1.404.509.1829
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6750142
Last Updated: 08/22/2020
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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