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PROPERTY INFO
FACTS
- Single Family
- Built In 2020
- Price/Sqft : $163.82
- 2 Days on Market
- MLS # : 6842910
- Updated Date : 02/20/2021 at 15:40
CONSTRUCTION
- Beds : 5
- Floor Size : 2,380 sqft
- Baths : 3 full
Listing Agent's Description
New Construction in highly sought after Southland Subdivision. HOME IS NOW COMPLETE. 5 bedroom 3 bath 4 sided brick home on golf course. 4 bedrooms up with 5th bedroom/office and full bath on main level. Full unfinished basement. HOA includes tennis court, golf, swimming pool and play ground. Too many upgrades to list. USE STANDARD PURCHASE AND SALE AGREEMENT WHEN MAKING OFFER. DO NOT USE NEW CONSTRUCTION CONTRACT. PREFERRED CLOSING ATTORNEY MCMICHAEL & GRAY. LOCKBOX CODE IN PRIVATE REMARKS.
SEE MORE
- 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
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
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,480 |
| EXPENSES | Loan Payment | -$1,354 |
| Property Tax | -$567 | |
| Property Insurance | -$73 | |
| HOA | -$83 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$284
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$389,900
PROJECTED PRICE
$2,480
PROJECTED RENT
0.64%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.05% |
| Appreciation Year (1-5) | 7.4% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 8.60% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$105,324
LOAN DETAILS
$1,354
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $97,475 |
| Loan Amount | $292,425 |
6.42
YEARS SAVED
$30,097
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,480
LIST RENT -
$1.04
LIST RENT PER SQFT
-
$3,737
COMP ESTIMATED VALUE -
$1.57
COMP AVG. RENT PER SQFT
Comps Range
-
6086 Southland Drive Stone Mountain, GA 1
- 5 beds 3 baths ∙ 2,380 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,380 Sqft ∙ Built 2020
- Rent
- Rent Per SQFT
- $2,480
- $1.04
-
6269 Greenock Drive Stone Mountain, GA 2
- 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2002
LEASED 01/15/21- Rent
- Rent Per SQFT
- $4,000
- $1.57
PROPERTY LISTING DETAILS
1.404.509.2259
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6842910
Last Updated: 02/20/2021
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.
