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4990 Terrace Green Trace Stone Mountain, GA 30088

3 Beds 3 Baths 2,784 sqft Built 1985

$215,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $77.23
  • 3 Days on Market
  • MLS # : 6828547
  • Updated Date : 01/16/2021 at 13:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,784 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Nestled in the Hidden Hills community, this spacious 3 bed 2-1/2 bath home has been completely refreshed. New interior/exterior paint, New HVAC, new light fixtures and all new flooring throughout the house. This spacious 2,784 sq.ft home is highlighted by high ceilings, stone fireplace, separate dining room and loft area overlooking the family room. The bright kitchen features, new cabinets, new countertops and stainless steel appliances. The large master suite includes a vaulted ceiling, double vanity and separate tub & shower.

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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)
  • 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
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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$747
Property Tax -$313
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
$311

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.

$215,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.73%

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$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

9.75

YEARS SAVED

$31,123

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.56

    LIST RENT PER SQFT
  • $1,698

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,570
$1,570
RENT COMPS ANALYSIS
  • 4990 Terrace Green Trace Stone Mountain, GA 2
    • 3 beds 3 baths ∙ 2,784 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,784 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.56
    •  
  • 5180 Galleon Crossing Decatur, GA 1
    • 4 beds 4 baths ∙ 2,459 Sqft ∙ Built 2003 4 beds 4 baths ∙ 2,459 Sqft ∙ Built 2003
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.61
    •  
PROPERTY LISTING DETAILS
Stephanie Burt
1.404.610.3272
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828547
Last Updated: 01/16/2021
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. © 2017 First Multiple Listing Service, Inc.

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