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656 S Indian Creek Drive Stone Mountain, GA 30083

3 Beds 2 Baths 1,305 sqft Built 1970

$199,987

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $153.25
  • 7 Days on Market
  • MLS # : 6827478
  • Updated Date : 02/06/2021 at 15:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,305 sqft
  • Baths : 2 full
Listing Agent's Description

Coveted Brick Ranch on a Full Basement, Fenced & Ready, across from an elementary school. Spacious, well-designed floorplan w/ Jack & Jill Bedrooms! BSMNT is an XL partially finished canvas awaiting your design. The huge flat fenced back yard is already level for your pool, etc. You can walk to the park, school, shopping, church & public transportation! Opportunity knocking 10 min. to Stn Mtn, Decatur, & the Beltline.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 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
Dunaire Elementary School Primary Regular 857 46 2
Freedom Middle School Middle Regular 1,240 71 4
Clarkston High School High Regular 1,544 103 4

Dunaire Elementary School

  • Education Level: Primary
  • # of students: 857
  • # of teachers: 46
2
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
 

$179,988$219,986$199,987

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$695
Property Tax -$291
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$143

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.

$199,987

PROJECTED PRICE

$1,300

PROJECTED RENT

0.65%

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$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,747

INVESTMENT

$58,747

Down Payment
$49,997
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,997
Loan Amount $149,990
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$14,387

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,077

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,175
1$1,1752$1,3003$1,365
$1,365
RENT COMPS ANALYSIS
  • 656 S Indian Creek Drive Stone Mountain, GA 2
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.00
    •  
  • 4795 Brasac Drive Stone Mountain, GA 1
    • 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
    •  
  • 3813 W Wood Path Stone Mountain, GA 3
    • 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
John Seay
1.678.773.7645
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6827478
Last Updated: 02/06/2021
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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