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6105 Chanterelle Court Stone Mountain, GA 30087

3 Beds 3 Baths 2,524 sqft Built 1973

$204,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $81.18
  • 2 Days on Market
  • MLS # : 6816484
  • Updated Date : 12/12/2020 at 09:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,524 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Sought after lovely 4-SIDE BRICK split-level home; 3 beds and 2.5 baths; Originally 4 bedrooms--can easily be reconstructed; OVER 2500 SQFT OF LIVING SPACE; LARGE OWNER'S SUITE with sitting area, ensuite bathroom and HIS and HERS closets; NEW HVAC; NEW ENERGY EFFICIENT WINDOWS THROUGHOUT; NEW ARCHITECTURAL ROOF; NEW gutters; NEW front porch; NEWLY insulated attic; RENOVATED kitchen and baths; HARDWOOD floors; NEW 2-CAR GARAGE; HUGE backyard; NO HOA; FINISHED daylight BASEMENT with great potential for young working adult or in-law suite; Home SOLD AS IS;

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: 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
 

$184,410$225,390$204,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$756
Property Tax -$298
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
$281

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.

$204,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.75%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$60,049

INVESTMENT

$60,049

Down Payment
$51,225
Rehab Estimate
$5,750
Closing Costs
$3,074

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,225
Loan Amount $153,675
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$37,893

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,451

    COMP ESTIMATED VALUE
  • $0.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,5653$1,600
$1,600
RENT COMPS ANALYSIS
  • 6105 Chanterelle Court Stone Mountain, GA 1
    • 3 beds 3 baths ∙ 2,524 Sqft ∙ Built 1973 3 beds 3 baths ∙ 2,524 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.61
    •  
  • 1022 Cherry Laurel Drive Lithonia, GA 2
    • 4 beds 2 baths ∙ 2,735 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,735 Sqft ∙ Built 1991
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.57
    •  
  • 518 Lynn Valley Way Stone Mountain, GA 3
    • 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 1986
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.58
    •  
PROPERTY LISTING DETAILS
Alberta Alleyne
1.770.658.6213
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6816484
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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