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5476 Martins Crossing Road Stone Mountain, GA 30088

4 Beds 2 Baths 1,147 sqft Built 1980

$160,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $139.49
  • 4 Days on Market
  • MLS # : 6825862
  • Updated Date : 01/09/2021 at 15:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,147 sqft
  • Baths : 2 full
Listing Agent's Description

Great Opportunity to live in a well sought after community in Stone Mountain. Spacious split level floor plan with large fenced backyard. Property has lots of potential and needs TLC. Close access to amenities and highways. Great for first time home buyers or investor looking to create a portfolio. Don't miss this deal!!

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 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
Eldridge L. Miller Elementary School Primary Regular 574 36 2
Redan Middle School Middle Regular 762 53 4
Redan High School High Regular 1,107 66 3

Eldridge L. Miller Elementary School

  • Education Level: Primary
  • # of students: 574
  • # of teachers: 36
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
 

$144,000$176,000$160,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$556
Property Tax -$233
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$213

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.

$160,000

PROJECTED PRICE

$1,170

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$48,150

INVESTMENT

$48,150

Down Payment
$40,000
Rehab Estimate
$5,750
Closing Costs
$2,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$556

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $40,000
Loan Amount $120,000
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$21,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $877

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$931
1$9312$1,1003$1,170
$1,170
RENT COMPS ANALYSIS
  • 5476 Martins Crossing Road Stone Mountain, GA 3
    • 4 beds 2 baths ∙ 1,147 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,147 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $1.02
    •  
  • 375 Derbyshire Drive Stone Mountain, GA 1
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1965
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $931
    • $0.75
    •  
  • 456 Pennybrook Drive Stone Mountain, GA 2
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1986
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.78
    •  
PROPERTY LISTING DETAILS
Shaniza Manjiyani
1.404.406.3502
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6825862
Last Updated: 01/09/2021
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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