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601 Robin Ridge Stone Mountain, GA 30087

5 Beds 3 Baths 2,292 sqft Built 2003

$275,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $119.98
  • 2 Days on Market
  • MLS # : 6853395
  • Updated Date : 03/13/2021 at 19:33
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,292 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Stunning and Renovated 5 Bedroom and 2.5 Bath Home! This classic brick front traditional home is upgraded with "Smart" Home features including security system, camera doorbell, rear camera, thermostats, and lights all integrated into a digital panel and mobile app. Chef's kitchen boasts granite counters and stainless steel appliances including 5-burner gas range with several attachments, convection oven and micro hood. New Roof (2020), Newer HVAC (2019) and fresh neutral paint. Brand new LVP floors throughout the entire main level!! This home provides an amazing

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Zip Code: 30087

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $89k209k

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

Zip Code: 30087

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9081650

* 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
Pine Ridge Elementary School Primary Regular 630 38 3
Stephenson Middle School Middle Regular 1,006 58 4
Stephenson High School High Regular 1,599 84 4

Pine Ridge Elementary School

  • Education Level: Primary
  • # of students: 630
  • # of teachers: 38
3
GreatSchools Rating

Stephenson Middle School

  • Education Level: Middle
  • # of students: 1,006
  • # of teachers: 58
4
GreatSchools Rating

Stephenson High School

  • Education Level: High
  • # of students: 1,599
  • # of teachers: 84
4
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$955
Property Tax -$400
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$24

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$275,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$12k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$11,142

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,566

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,5703$1,6754$1,820
$1,820
RENT COMPS ANALYSIS
  • 601 Robin Ridge Stone Mountain, GA 2
    • 5 beds 3 baths ∙ 2,292 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,292 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.68
    •  
  • 1265 Baywood Glen Lithonia, GA 1
    • 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1991
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.67
    •  
  • 1002 Walnut Trace Lithonia, GA 3
    • 5 beds 4 baths ∙ 2,490 Sqft ∙ Built 1992 5 beds 4 baths ∙ 2,490 Sqft ∙ Built 1992
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.67
    •  
  • 5848 Bellingrath Way Lithonia, GA 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
    •  
PROPERTY LISTING DETAILS
Jen Haslup
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6853395
Last Updated: 03/13/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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