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7064 Brook Side Landing Stone Mountain, GA 30087

3 Beds 3 Baths 2,185 sqft Built 1990

$255,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $116.70
  • 4 Days on Market
  • MLS # : 6838806
  • Updated Date : 02/12/2021 at 08:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,185 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Updated and spacious 3 bed 2.5 bath home in Dockside at Waters Edge. This open floor plan, two story home is move in ready with neutral paint and newer flooring throughout (no carpet). The living room has vaulted ceilings, built ins, and a gas fireplace with stacked stone hearth. Renovated kitchen with granite countertops, copious cabinets for storage, and stainless steel appliances. Enjoy the large back deck for grilling out or just watching the leaves change and nature. Oversized owner's suite with sitting area, large walk in closet, and updated bath (jacuzzi tub,

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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$886
Property Tax -$371
Property Insurance -$69
HOA -$94
Property Management Fees -$119
CASH FLOW
$51

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.

$255,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.62%

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-$2.0k$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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$10,897

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,624

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4353$1,5744$1,590
$1,590
RENT COMPS ANALYSIS
  • 7064 Brook Side Landing Stone Mountain, GA 4
    • 3 beds 3 baths ∙ 2,185 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,185 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.73
    •  
  • 5060 Conestoga Court Stone Mountain, GA 1
    • 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1985
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.69
    •  
  • 801 Edenberry Lane Lithonia, GA 2
    • 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1999
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.75
    •  
  • 590 Watson Bay Stone Mountain, GA 3
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1997
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,574
    • $0.79
    •  
PROPERTY LISTING DETAILS
Peter Marks
1.404.476.8171
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6838806
Last Updated: 02/12/2021
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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