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5949 Magnolia Ridge 
Stone Mountain, GA
30087
5 Beds 4 Baths 2,840 sqft
Built 2000
INVESTimate
$299,900
List Price
$85,224
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PROPERTY INFO
FACTS
- Built In 2000
- Price/Sqft : $105.60
- 6 Days on Market
- MLS # : 6769150
- Updated Date : 08/25/2020 at 19:40
CONSTRUCTION
- Beds : 5
- Floor Size : 2,840 sqft
- Baths : 3 full , 1 half
Listing Agent's Description
Come see this Gorgeous Traditional 5 Bedroom /3 Bath home with an open kitchen plan and views to the family room. This lovingly maintained home boasts hardwood floors on the main and spacious bedrooms including master suite with double vanity and separate tub/shower. Gates of Southland offers a swim/tennis community and a beautiful lake that backs to yard. Don't delay, schedule your showing today. Sold AS-IS, However the house is in good condition.
SEE MORE
- #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
Neighborhood: The Southland Country Club
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Southland Country Club
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,720 |
| EXPENSES | Loan Payment | -$1,107 |
| Property Tax | -$436 | |
| Property Insurance | -$82 | |
| HOA | -$41 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$65
|
||
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.
$299,900
PROJECTED PRICE
$1,720
PROJECTED RENT
0.57%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.05% |
| Appreciation Year (1-5) | 7.37% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.60% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$85,224
LOAN DETAILS
$1,107
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $74,975 |
| Loan Amount | $224,925 |
2.25
YEARS SAVED
$5,020
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,720
LIST RENT -
$0.61
LIST RENT PER SQFT
-
$1,811
COMP ESTIMATED VALUE -
$0.64
COMP AVG. RENT PER SQFT
Comps Range
-
5949 Magnolia Ridge Stone Mountain, 2
- 5 beds 4 baths ∙ 2,840 Sqft ∙ Built 2000 5 beds 4 baths ∙ 2,840 Sqft ∙ Built 2000
- Rent
- Rent Per SQFT
- $1,720
- $0.61
-
1002 Walnut Trace Lithonia, 1
- 5 beds 4 baths ∙ 2,490 Sqft ∙ Built 1992 5 beds 4 baths ∙ 2,490 Sqft ∙ Built 1992
LEASED 10/25/19- Rent
- Rent Per SQFT
- $1,569
- $0.63
-
983 Carriage Trace Circle Stone Mountain, 3
- 5 beds 3 baths ∙ 2,890 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,890 Sqft ∙ Built 1996
LEASED 04/13/20- Rent
- Rent Per SQFT
- $1,725
- $0.60
-
5848 Bellingrath Way Lithonia, 4
- 5 beds 4 baths ∙ 2,546 Sqft ∙ Built 1993 5 beds 4 baths ∙ 2,546 Sqft ∙ Built 1993
LEASED 06/24/20- Rent
- Rent Per SQFT
- $1,820
- $0.71
-
6054 Magnolia Ridge Stone Mountain, 5
- 4 beds 3 baths ∙ 3,126 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,126 Sqft ∙ Built 2002
LEASED 01/07/20- Rent
- Rent Per SQFT
- $1,900
- $0.61
PROPERTY LISTING DETAILS
1.404.883.2076
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6769150
Last Updated: 08/25/2020
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.
