Atlanta

[Nithin K.]

Hi there,

So I have been looking at the Atlanta area for buying a rental property. I am not into fix and flip for now and would like the purchase an SFH to generate enough cash to cover the mortgage and expenses.

I am looking at this neighborhood - Mountain Oaks in Stone Mountain. Schools are average. But the houses seems good value. Like for 150-200k, you get a really good house and built in the late 90s. The communities have HOA.

Anyway, what do you guys think of the neighborhood. I know Stone Mountain is kind of frowned upon- but these subdivisions (mountain oaks and also waters edge a little further north) look like oases in the desert. No crime worries, very good houses, good value for money when you are looking at an investment for 5years plus. Probably people look down upon the entire stone mountain as crime ridden and the perception has been doing a lot of damage. But beneath the surface- I see there are neighborhoods that are really good. 

But can someone local or familiar with the area tell me - how hard is it to find renters for $1400-1500. These primarily looks like an African American community with not much diversity at the moment. Are people here mostly professionals looking to commute to downtown Atlanta or Decatur or more middle aged/ 'settled in life' kind of people?

I am definitely looking at the scope of appreciation in the neighborhood as cash-flow wise - this property wont do me much good. Taxes are around 3000 annually also.

What about the proposed expansion of MARTA? Will that bring an appreciation / buzz to these communities or are they not planned for this region? 

Any and all insight will be much appreciated.