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688 Greenhedge Drive Stone Mountain, GA 30088

3 Beds 3 Baths 1,528 sqft Built 1985

$175,000

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $114.53
  • 5 Days on Market
  • MLS # : 6810527
  • Updated Date : 11/19/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,528 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Newly Renovated Move In Ready Home. This home offers Lots of light from it's North facing windows and situated on a private Cul-De-Sac. Freshly Painted with New Floors and All Bathrooms have New Sinks & Toilets. Kitchen offers an Eat-in breakfast area with Granite Counter Tops that leads to a Large private Back Yard. This 3 Bedrooms & 2 1/2 Bathroom home is nicely sized, with a Spacious Master Bedroom & a walk in closet with closet system already installed. This home is Ready for your Buyers and with these Updates it will NOT Last. NO Sign in Yard. Go

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30088

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $81k209k

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

Zip Code: 30088

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
Shadow Rock Elementary School Primary Regular 659 40 3
Redan Middle School Middle Regular 762 53 4
Redan High School High Regular 1,107 66 3

Shadow Rock Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 40
3
GreatSchools Rating

Redan Middle School

  • Education Level: Middle
  • # of students: 762
  • # of teachers: 53
4
GreatSchools Rating

Redan High School

  • Education Level: High
  • # of students: 1,107
  • # of teachers: 66
3
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$646
Property Tax -$255
Property Insurance -$57
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 17% of earned rent to cover both maintenance and periods of vacancy.

$175,000

PROJECTED PRICE

$1,100

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.8%
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

PROJECTED ANNUAL CASH FLOW

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

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$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$6,855

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,146

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2133$1,2504$1,2755$1,324
$1,324
RENT COMPS ANALYSIS
  • 688 Greenhedge Drive Stone Mountain, GA 1
    • 3 beds 3 baths ∙ 1,528 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,528 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.72
    •  
  • 4970 Isle Royal Court Stone Mountain, GA 2
    • 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1976
    property image
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,213
    • $0.78
    •  
  • 510 Waterview Lane Stone Mountain, GA 3
    • 4 beds 3 baths ∙ 1,656 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,656 Sqft ∙ Built 1974
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.75
    •  
  • 946 Fox Valley Court Stone Mountain, GA 4
    • 4 beds 3 baths ∙ 1,678 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,678 Sqft ∙ Built 1986
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.76
    •  
  • 774 Post Road Drive Stone Mountain, GA 5
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1979
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,324
    • $0.71
    •  
PROPERTY LISTING DETAILS
Pauline Matthews
1.407.733.7459
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6810527
Last Updated: 11/19/2020
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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