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582 Woodcrest Manor Drive Stone Mountain, GA 30083

3 Beds 3 Baths 1,440 sqft Built 1988

$179,900

List Price

$1,070

$963 - $1.2K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $124.93
  • 5 Days on Market
  • MLS # : 6817168
  • Updated Date : 12/12/2020 at 13:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,440 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Calling all owner-occupied buyers, this one is for you only! This newly renovated home has tons of updates and is move-in ready. Come home to your home perched slightly above the street with an oversized garage leading into your eat-in kitchen. Updated kitchen w/ new cabinets, flooring, countertops and stainless steel appliances. The home features separate dining room, living room and family room w/ tons of closet and storage space. Walk upstairs to your owners suite w/ 2 closets and spacious secondary bedrooms.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$161,910$197,890$179,900

PURCHASE PRICE

$963$1,177$1,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,070
EXPENSES Loan Payment -$664
Property Tax -$262
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$29

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.

$179,900

PROJECTED PRICE

$1,070

PROJECTED RENT

0.59%

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

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$3,959

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,070

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,145

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,070
1$1,0702$1,1753$1,2004$1,2995$1,365
$1,365
RENT COMPS ANALYSIS
  • 582 Woodcrest Manor Drive Stone Mountain, GA 1
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,070
    • $0.74
    •  
  • 4795 Brasac Drive Stone Mountain, GA 2
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1989
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.82
    •  
  • 4333 Crestridge Lane Stone Mountain, GA 3
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1983
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.76
    •  
  • 546 Hammett Drive Decatur, GA 4
    • 4 beds 2 baths ∙ 1,684 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,684 Sqft ∙ Built 1976
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.77
    •  
  • 3813 W Wood Path Stone Mountain, GA 5
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1981
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,365
    • $0.83
    •  
PROPERTY LISTING DETAILS
Renee Giles
1.404.808.4405
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6817168
Last Updated: 12/12/2020
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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