Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

879 Parkstone Drive Stone Mountain, GA 30083

3 Beds 2 Baths 1,252 sqft Built 1967

$130,000

List Price

$1,050

$945 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $103.83
  • 3 Days on Market
  • MLS # : 6853132
  • Updated Date : 03/13/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,252 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Coming Soon!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Stone Mountain

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $73k209k

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

Neighborhood: Stone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7851509

* 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
Stone Mill Elementary School Primary Regular 571 33 4
Stone Mountain Middle School Middle Regular 918 63 3
Stone Mountain High School High Regular 1,062 68 3

Stone Mill Elementary School

  • Education Level: Primary
  • # of students: 571
  • # of teachers: 33
4
GreatSchools Rating

Stone Mountain Middle School

  • Education Level: Middle
  • # of students: 918
  • # of teachers: 63
3
GreatSchools Rating

Stone Mountain High School

  • Education Level: High
  • # of students: 1,062
  • # of teachers: 68
3
GreatSchools Rating
 

$117,000$143,000$130,000

PURCHASE PRICE

$945$1,155$1,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,050
EXPENSES Loan Payment -$452
Property Tax -$189
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$239

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.

$130,000

PROJECTED PRICE

$1,050

PROJECTED RENT

0.81%

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

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$50k$100k$150k$200k$250k$300k$350k$400k$450k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$40,200

INVESTMENT

$40,200

Down Payment
$32,500
Rehab Estimate
$5,750
Closing Costs
$1,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$452

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $32,500
Loan Amount $97,500
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$23,156

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,050

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $983

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,0503$1,100
$1,100
RENT COMPS ANALYSIS
  • 879 Parkstone Drive Stone Mountain, GA 2
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1967
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.84
    •  
  • 942 Pine Roc Drive Stone Mountain, GA 1
    • 4 beds 2 baths ∙ 1,206 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,206 Sqft ∙ Built 1967
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.79
    •  
  • 456 Pennybrook Drive Stone Mountain, GA 3
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1986
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.78
    •  
PROPERTY LISTING DETAILS
Cindy K Norton
1.678.794.6273
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6853132
Last Updated: 03/13/2021
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.

BESbswy