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953 Lake Watch Drive Stone Mountain, GA 30088

4 Beds 3 Baths 2,328 sqft Built 1985

$194,900

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $83.72
  • 3 Days on Market
  • MLS # : 6805630
  • Updated Date : 11/07/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,328 sqft
  • Baths : 3 full
Listing Agent's Description

Here's a real winner! Lots of space for your growing family. Seller has done the hard work and now its time to make it your own. Updated cabinets, granite counters. All new windows. Newer roof and gutters. Some hardwood flooring, tiled kitchen. Heat and air less than 10 yrs. Seller has extended the back deck and added a sunroom with portable heat and air. New garage door and opener. Sprinkler system. Just pressure washed. Nest door bell and thermostat. Has security cameras that stay as well. Large private back yard for the children. Hurry!! USE SHOWING TIME TO SCHEDULE.

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: 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
 

$175,410$214,390$194,900

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$719
Property Tax -$284
Property Insurance -$72
HOA -$60
Property Management Fees -$119
CASH FLOW
$106

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.

$194,900

PROJECTED PRICE

$1,360

PROJECTED RENT

0.70%

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$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$57,399

INVESTMENT

$57,399

Down Payment
$48,725
Rehab Estimate
$5,750
Closing Costs
$2,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,725
Loan Amount $146,175
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$12,273

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,630

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,4183$1,4504$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 953 Lake Watch Drive Stone Mountain, GA 1
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.58
    •  
  • 882 Martin Road Stone Mountain, GA 2
    • 4 beds 4 baths ∙ 2,154 Sqft ∙ Built 1977 4 beds 4 baths ∙ 2,154 Sqft ∙ Built 1977
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,418
    • $0.66
    •  
  • 4940 Pine Hill Court E Stone Mountain, GA 3
    • 5 beds 4 baths ∙ 2,090 Sqft ∙ Built 1972 5 beds 4 baths ∙ 2,090 Sqft ∙ Built 1972
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.69
    •  
  • 741 Guide Post Lane Stone Mountain, GA 4
    • 3 beds 4 baths ∙ 2,177 Sqft ∙ Built 1989 3 beds 4 baths ∙ 2,177 Sqft ∙ Built 1989
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.73
    •  
  • 4828 Scotland Drive Stone Mountain, GA 5
    • 5 beds 4 baths ∙ 2,218 Sqft ∙ Built 1973 5 beds 4 baths ∙ 2,218 Sqft ∙ Built 1973
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.72
    •  
PROPERTY LISTING DETAILS
K C Cabell
1.404.427.4904
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805630
Last Updated: 11/07/2020
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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