Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

551 S Rays Road Stone Mountain, GA 30083

6 Beds 4 Baths 2,228 sqft Built 1969

$240,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $107.72
  • 3 Days on Market
  • MLS # : 6828738
  • Updated Date : 01/16/2021 at 11:28
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,228 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Mid-century modern dreams come true! Sprawling dreamy retro ranch checks every box on your list: In-Law-Suite, 2 Double Vanities, Dynamite floor plan, Mesmerizing picture windows that let in tons of natural light, Updated in all the right places. Two car garage w/ additional 2 new parking pads, INSANE amount of storage in In-Law-Suite w/ workshop & of course the backyard oasis. Great Location & Situs with 10 min. to World Renown Emory, downtown Decatur, CDC, & Stone Montain Park! Close to the Atlanta Beltline, too!

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: 30083

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $80k209k

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

Zip Code: 30083

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
Allgood Elementary School Primary Regular 647 41 4
Freedom Middle School Middle Regular 1,240 71 4
Clarkston High School High Regular 1,544 103 4

Allgood Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 41
4
GreatSchools Rating

Freedom Middle School

  • Education Level: Middle
  • # of students: 1,240
  • # of teachers: 71
4
GreatSchools Rating

Clarkston High School

  • Education Level: High
  • # of students: 1,544
  • # of teachers: 103
4
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$834
Property Tax -$349
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$58

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.

$240,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$8,959

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,571

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,4503$1,595
$1,595
RENT COMPS ANALYSIS
  • 551 S Rays Road Stone Mountain, GA 1
    • 6 beds 4 baths ∙ 2,228 Sqft ∙ Built 1969 6 beds 4 baths ∙ 2,228 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.64
    •  
  • 4940 Pine Hill Court E Stone Mountain, GA 2
    • 5 beds 4 baths ∙ 2,090 Sqft ∙ Built 1972 5 beds 4 baths ∙ 2,090 Sqft ∙ Built 1972
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.69
    •  
  • 4828 Scotland Drive Stone Mountain, GA 3
    • 5 beds 4 baths ∙ 2,218 Sqft ∙ Built 1973 5 beds 4 baths ∙ 2,218 Sqft ∙ Built 1973
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.72
    •  
PROPERTY LISTING DETAILS
John Seay
1.678.773.7645
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828738
Last Updated: 01/16/2021
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.

BESbswy