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5297 Hollyfield Drive Stone Mountain, GA 30088

5 Beds 3 Baths 2,835 sqft Built 1992

$214,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $75.80
  • 3 Days on Market
  • MLS # : 6856065
  • Updated Date : 03/27/2021 at 15:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,835 sqft
  • Baths : 3 full
Listing Agent's Description

CANCLED OPEN HOUSE!!NO SHOWINGS RIGHT NOW Huge 5 bedroom 3 full bath home that offers space for every family member! Large master bedroom with vaulted ceilings and great closet space! Newly installed roof and AC unit! The kitchen has an open view of the great room and easy access to the dining room. Huge bonus bedroom and large secondary bedrooms. You don't want to miss out on this opportunity.

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)
  • #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)
  • 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)

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
Redan Elementary School Primary Regular 507 34 2
Redan Middle School Middle Regular 762 53 4
Redan High School High Regular 1,107 66 3

Redan Elementary School

  • Education Level: Primary
  • # of students: 507
  • # of teachers: 34
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
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$746
Property Tax -$313
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
$450

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.

$214,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.80%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$746

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

12.67

YEARS SAVED

$43,870

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $2,013

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7103$1,8204$1,900
$1,900
RENT COMPS ANALYSIS
  • 5297 Hollyfield Drive Stone Mountain, GA 2
    • 5 beds 3 baths ∙ 2,835 Sqft ∙ Built 1992 5 beds 3 baths ∙ 2,835 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.60
    •  
  • 1002 Walnut Trace Lithonia, GA 1
    • 5 beds 4 baths ∙ 2,490 Sqft ∙ Built 1992 5 beds 4 baths ∙ 2,490 Sqft ∙ Built 1992
    property image
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.67
    •  
  • 5848 Bellingrath Way Lithonia, GA 3
    • 5 beds 4 baths ∙ 2,546 Sqft ∙ Built 1993 5 beds 4 baths ∙ 2,546 Sqft ∙ Built 1993
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.71
    •  
  • 5594 Mountain View Pass Stone Mountain, GA 4
    • 5 beds 4 baths ∙ 2,523 Sqft ∙ Built 1994 5 beds 4 baths ∙ 2,523 Sqft ∙ Built 1994
    property image
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.75
    •  
PROPERTY LISTING DETAILS
Richard E Hines
1.404.992.2679
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6856065
Last Updated: 03/27/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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