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5143 Maggie Drive Stone Mountain, GA 30087

3 Beds 2 Baths 1,867 sqft Built 1972

$215,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $115.16
  • 1 Days on Market
  • MLS # : 6808961
  • Updated Date : 11/14/2020 at 23:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,867 sqft
  • Baths : 2 full
Listing Agent's Description

Beautiful 4 Sided Brick Ranch * Fantastic Location * Level Lot * New Thermal Pane Windows * Updated Bathrooms * New Paint * Inground Pool Has Been Covered & Unused Since Liner Was Replaced * Lovely Kitchen With Breakfast Area, Gas Cooktop & Wall Oven * Separate Dining Room * Family Room With Masonry Fireplace & Built In Bookcases * Separate Living Room * Tile & Laminate Wood Floors Thru out * Good Size Sunroom Overlooking Private Yard With Pool & Shed * Play Area For Children With Playset * No HOA !

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: 30087

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $89k209k

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

Zip Code: 30087

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9081650

* 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
Annistown Elementary School Primary Regular 601 44 7
Shiloh Middle School Middle Regular 1,844 112 6
Shiloh High School High Regular 2,238 126 4

Annistown Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 44
7
GreatSchools Rating

Shiloh Middle School

  • Education Level: Middle
  • # of students: 1,844
  • # of teachers: 112
6
GreatSchools Rating

Shiloh High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 126
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$793
Property Tax -$311
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$104

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$215,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$12k

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$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 45% 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 $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$18,147

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,382

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2953$1,3904$1,500
$1,500
RENT COMPS ANALYSIS
  • 5143 Maggie Drive Stone Mountain, GA 3
    • 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.74
    •  
  • 5231 Vivid Drive Stone Mountain, GA 1
    • 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 1966
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.74
    •  
  • 2210 Rockbridge Road Stone Mountain, GA 2
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1959
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.75
    •  
  • 1579 Rockbridge Road Stone Mountain, GA 4
    • 3 beds 2 baths ∙ 2,061 Sqft ∙ Built 1959 3 beds 2 baths ∙ 2,061 Sqft ∙ Built 1959
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.73
    •  
PROPERTY LISTING DETAILS
Roberta Wilber
1.770.596.7423
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808961
Last Updated: 11/14/2020
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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