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866 Ashwood Crossing Stone Mountain, GA 30088

3 Beds 2 Baths 1,092 sqft Built 1986

$122,500

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $112.18
  • 3 Days on Market
  • MLS # : 6813078
  • Updated Date : 11/28/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,092 sqft
  • Baths : 2 full
Listing Agent's Description

Welcome Home!! this is a great fixer upper not much work to be done Great for a first time investor and rental property. Take A LOOK this bargain won't last long.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 Most affordable big city (WalletHub, 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'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)

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
Eldridge L. Miller Elementary School Primary Regular 574 36 2
Redan Middle School Middle Regular 762 53 4
Redan High School High Regular 1,107 66 3

Eldridge L. Miller Elementary School

  • Education Level: Primary
  • # of students: 574
  • # of teachers: 36
2
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
 

$110,250$134,750$122,500

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$452
Property Tax -$178
Property Insurance -$48
HOA -$60
Property Management Fees -$119
CASH FLOW
$323

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.

$122,500

PROJECTED PRICE

$1,180

PROJECTED RENT

0.96%

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$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$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$38,213

INVESTMENT

$38,213

Down Payment
$30,625
Rehab Estimate
$5,750
Closing Costs
$1,838

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$452

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $30,625
Loan Amount $91,875
See What Happens When You Reinvest Cash Flow

13.92

YEARS SAVED

$32,655

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,180
$1,180
RENT COMPS ANALYSIS
  • 866 Ashwood Crossing Stone Mountain, GA
    • 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $1.08
    •  
PROPERTY LISTING DETAILS
Krystal Rice
1.770.861.7438
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6813078
Last Updated: 11/28/2020
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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