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5258 Essex Farms Court Stone Mountain, GA 30088

5 Beds 2 Baths 2,148 sqft Built 1973

$225,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $104.75
  • 6 Days on Market
  • MLS # : 6814386
  • Updated Date : 12/05/2020 at 14:54
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,148 sqft
  • Baths : 2 full
Listing Agent's Description

FIVE BEDROOM RANCH BUNGALOW-RENOVATED AND READY TO GO! MAIN LEVEL OFFERS RANCH STYLE LIVING, FEATURING FOUR BEDROOMS AND TWO FULL BATHS. BEAUTIFUL EAT IN KITCHEN W/GRANITE COUNTERTOPS, ADJACENT TO THE DINING ROOM. LIVING ROOM LEADS OUT TO HUGE DECK OVERLOOKING THE FENCED BACKYARD! STUNNING WROUGHT IRON-HARDWOOD STAIRCASE, INVITES YOU UPSTAIRS TO THE OVERSIZED GUEST QUARTERS. THIS SPACE CAN SUB AS AN ABOVE GROUND BASEMENT-DEN, OFFICE, EXERCISE ROOM, PLAY AREA, MOVIE ROOM-WHATEVER YOU CAN IMAGINE! LOTS OF NATURAL SUNLIGHT!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

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
Panola Way Elementary School Primary Regular 863 53 2
Miller Grove Middle School Middle Regular 977 61 3
Miller Grove High School High Regular 1,551 83 4

Panola Way Elementary School

  • Education Level: Primary
  • # of students: 863
  • # of teachers: 53
2
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$830
Property Tax -$327
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$235

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.

$225,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.70%

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

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$27,135

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,584

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4993$1,5804$1,6255$1,650
$1,650
RENT COMPS ANALYSIS
  • 5258 Essex Farms Court Stone Mountain, GA 3
    • 5 beds 2 baths ∙ 2,148 Sqft ∙ Built 1973 5 beds 2 baths ∙ 2,148 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.74
    •  
  • 5812 Calico Court Lithonia, GA 1
    • 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1984
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.74
    •  
  • 4837 Terrace Green Trace Stone Mountain, GA 2
    • 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
    •  
  • 1493 Stoneleigh Hill Road Lithonia, GA 4
    • 4 beds 2 baths ∙ 2,218 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,218 Sqft ∙ Built 1979
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.73
    •  
  • 1984 Taffeta Trail Lithonia, GA 5
    • 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 1980
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
PROPERTY LISTING DETAILS
Bobbi Meyers
1.678.438.8675
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6814386
Last Updated: 12/05/2020
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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