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693 Tahoe Circle Stone Mountain, GA 30083

5 Beds 3 Baths 2,579 sqft Built 1967

$214,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1967
  • Price/Sqft : $83.33
  • 4 Days on Market
  • MLS # : 6805062
  • Updated Date : 11/06/2020 at 08:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,579 sqft
  • Baths : 3 full
Listing Agent's Description

Calling all do-it-yourself buyers or investors, try your hand at this value play! This home has great potential and offers lots of space for the money, with high potential for increased value. All it needs is some work to restore its natural beauty. Sold as-is.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 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
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$793
Property Tax -$313
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$179

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.

$214,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.69%

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$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$20,252

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $1,461

    COMP ESTIMATED VALUE
  • $0.57

    COMP AVG. RENT PER SQFT
Comps Range
$1,240
1$1,2402$1,4003$1,4804$1,495
$1,495
RENT COMPS ANALYSIS
  • 693 Tahoe Circle Stone Mountain, GA 3
    • 5 beds 3 baths ∙ 2,579 Sqft ∙ Built 1967 5 beds 3 baths ∙ 2,579 Sqft ∙ Built 1967
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.57
    •  
  • 4278 Autumn Hill Drive Stone Mountain, GA 1
    • 4 beds 3 baths ∙ 2,327 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,327 Sqft ∙ Built 1967
    property image
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.53
    •  
  • 4657 Keighley Drive Stone Mountain, GA 2
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 1977
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.61
    •  
  • 859 John Alden Road Stone Mountain, GA 4
    • 4 beds 4 baths ∙ 2,668 Sqft ∙ Built 1971 4 beds 4 baths ∙ 2,668 Sqft ∙ Built 1971
    property image
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.56
    •  
PROPERTY LISTING DETAILS
Zareh Najarian
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805062
Last Updated: 11/06/2020
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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