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5458 Farmview Close Stone Mountain, GA 30088

3 Beds 3 Baths 1,344 sqft Built 1987

$169,000

List Price

$1,050

$945 - $1.2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1987
  • Price/Sqft : $125.74
  • 9 Days on Market
  • MLS # : 6799059
  • Updated Date : 10/27/2020 at 16:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This cozy, well-kept 2-story home has been extremely well cared for. Located in a quiet neighborhood, this home has a formal dining room, spacious living room w/ fireplace, eat in kitchen that leads out to deck overlooking private fenced in backyard. Large master with sitting area & on-suite bathroom, plus two additional nicely sized bedrooms and an additional full bathroom upstairs. 1 car garage with long driveway for parking. Located 10 minutes from Stone Mtn Park. Great for first time homebuyers or investors. Come see for yourself! Home being sold as-is.

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
Shadow Rock Elementary School Primary Regular 659 40 3
Redan Middle School Middle Regular 762 53 4
Redan High School High Regular 1,107 66 3

Shadow Rock Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 40
3
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
 

$152,100$185,900$169,000

PURCHASE PRICE

$945$1,155$1,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,050
EXPENSES Loan Payment -$624
Property Tax -$246
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$8

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.

$169,000

PROJECTED PRICE

$1,050

PROJECTED RENT

0.62%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,535

INVESTMENT

$50,535

Down Payment
$42,250
Rehab Estimate
$5,750
Closing Costs
$2,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$624

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,250
Loan Amount $126,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$5,708

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,050

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,055

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,2003$1,2504$1,2755$1,285
$1,285
RENT COMPS ANALYSIS
  • 5458 Farmview Close Stone Mountain, GA 1
    • 3 beds 3 baths ∙ 1,344 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,344 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.78
    •  
  • 882 Chapman Circle Stone Mountain, GA 2
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1986
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.81
    •  
  • 1352 Muirforest Drive Stone Mountain, GA 3
    • 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1984
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.80
    •  
  • 946 Fox Valley Court Stone Mountain, GA 4
    • 4 beds 3 baths ∙ 1,678 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,678 Sqft ∙ Built 1986
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.76
    •  
  • 4958 Isle Royal Court Stone Mountain, GA 5
    • 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 1977
    property image
    LEASED 05/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,285
    • $0.77
    •  
PROPERTY LISTING DETAILS
Terina Lambright
1.404.337.9208
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6799059
Last Updated: 10/27/2020
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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