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4832 Terrace Green Trace Stone Mountain, GA 30088

4 Beds 4 Baths 2,324 sqft Built 1990

INVESTimate

$249,900

List Price

$1,470

$1,323 - $1,617

Rent Est.

$271,841  ( +8.78%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1990
  • Price/Sqft : $107.53
  • 30 Days on Market
  • MLS # : 6754126
  • Updated Date : 08/25/2020 at 17:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,324 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

BACK ON THE MARKET! No fault of the seller. Home has been inspected and repairs have been made. 1 Owner-Custom designed traditional home w/great curb appeal. 4 bdrms + Bonus Room, w/ lower level inlaw/teen suite. This home has been taken care of-newer gutters, attic insulation, garage door opener system. HVAC systems-under warranties. Eat in-kitchen, family room, living room & dining room. Full inlaw/teen suite-full kit, bdrm, living area, storage area & separate patio entrance. Lrge prvt bkyrd; Includes handicap features-chairlift & ramp. A great place to call home!

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: 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
Woodridge Elementary School Primary Regular 585 34 4
Miller Grove Middle School Middle Regular 977 61 3
Miller Grove High School High Regular 1,551 83 4

Woodridge Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 34
4
GreatSchools Rating

Miller Grove Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 61
3
GreatSchools Rating

Miller Grove High School

  • Education Level: High
  • # of students: 1,551
  • # of teachers: 83
4
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,323$1,617$1,470

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-$4.0k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$922
Property Tax -$364
Property Insurance -$72
HOA -$13
Property Management Fees -$119
CASH FLOW
-$19

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.

$249,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.78%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$6,180

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,545

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,353
1$1,3532$1,4703$1,4994$1,5285$1,595
$1,595
RENT COMPS ANALYSIS
  • 4832 Terrace Green Trace Stone Mountain, 2
    • 4 beds 4 baths ∙ 2,324 Sqft ∙ Built 1990 4 beds 4 baths ∙ 2,324 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.63
    •  
  • 1614 Devon Court Stone Mountain, 1
    • 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1972
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,353
    • $0.66
    •  
  • 4837 Terrace Green Trace Stone Mountain, 3
    • 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1990
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.67
    •  
  • 5164 Fieldgreen Crossing Stone Mountain, 4
    • 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 1979
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,528
    • $0.63
    •  
  • 4590 Cedar Ridge Trail Stone Mountain, 5
    • 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 1972
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.70
    •  
PROPERTY LISTING DETAILS
Ivy Evans Sledge
1.678.360.5906
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6754126
Last Updated: 08/25/2020
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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