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4801 Mainstreet Park Drive Stone Mountain, GA 30088

3 Beds 3 Baths 1,704 sqft Built 1983

$185,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $108.57
  • 4 Days on Market
  • MLS # : 6817539
  • Updated Date : 12/12/2020 at 07:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,704 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Warm yourself by the fireplace in this welcoming Smart Home - lights, ceiling fans, front door lock, thermostat can be controlled remotely with subscription to the service of your choice. Big eat-in kitchen & adjacent dining room are great for family gatherings. Easy walk to amenities: lake, playground, tennis, clubhouse, 3 pools, & more. Most light fixtures & interior doors are updated; don't miss motion activated lights in bathrooms & laundry room. Comes with wifi access point. Security System compatible w/ several vendors. Just 10 mins to the Perimeter!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • 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)

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
Eldridge L. Miller Elementary School Primary Regular 574 36 2
Redan Middle School Middle Regular 762 53 4
Redan High School High Regular 1,107 66 3

Eldridge L. Miller Elementary School

  • Education Level: Primary
  • # of students: 574
  • # of teachers: 36
2
GreatSchools Rating

Redan Middle School

  • Education Level: Middle
  • # of students: 762
  • # of teachers: 53
4
GreatSchools Rating

Redan High School

  • Education Level: High
  • # of students: 1,107
  • # of teachers: 66
3
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$683
Property Tax -$269
Property Insurance -$60
HOA -$60
Property Management Fees -$119
CASH FLOW
$119

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.

$185,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.71%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$13,188

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,308

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,3103$1,3244$1,3605$1,400
$1,400
RENT COMPS ANALYSIS
  • 4801 Mainstreet Park Drive Stone Mountain, GA 2
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.77
    •  
  • 1035 Mainstreet Lake Drive Stone Mountain, GA 1
    • 3 beds 3 baths ∙ 1,648 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,648 Sqft ∙ Built 1983
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.77
    •  
  • 774 Post Road Drive Stone Mountain, GA 3
    • 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
    •  
  • 4973 Gatehouse Way Stone Mountain, GA 4
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1983
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.82
    •  
  • 743 Lost Creek Circle Stone Mountain, GA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Laura Griffin
1.404.578.1802
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6817539
Last Updated: 12/12/2020
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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