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10625 Colony Glen Drive Alpharetta, GA 30022

3 Beds 2 Baths 2,082 sqft Built 1986

INVESTimate

$300,000

List Price

$1,740

$1,566 - $1,914

Rent Est.

$316,080  ( +5.36%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1986
  • Price/Sqft : $144.09
  • 24 Days on Market
  • MLS # : 6753630
  • Updated Date : 08/24/2020 at 10:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,082 sqft
  • Baths : 2 full
Listing Agent's Description

Immaculately maintained and cared for 3 bed 2 bath ranch home in Johns Creek High School cluster just minutes to The Avalon and other shopping/entertainment. This home features an exterior paradise including exotic flowering trees/shrubs with a variety of maples, cypress, dogwood trees, blueberry bushes and a fig tree. Enjoy the privacy of your new home and garden on the rear wrap around deck while picking blueberries or figs for your summer pies. The home has been completely wrapped in Nichiha cement siding with a 30yr transferable warranty, a new Timberline roof

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Colony Glen

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $106k426k

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

Neighborhood: Colony Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9732646

* 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
Dolvin Elementary School Primary Regular 878 52 9
Autrey Mill Middle School Middle Regular 1,385 93 9
Johns Creek High School High Regular 2,011 101 9

Dolvin Elementary School

  • Education Level: Primary
  • # of students: 878
  • # of teachers: 52
9
GreatSchools Rating

Autrey Mill Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 93
9
GreatSchools Rating

Johns Creek High School

  • Education Level: High
  • # of students: 2,011
  • # of teachers: 101
9
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,107
Property Tax -$274
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$173

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.

$300,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.36%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$35,779

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,926

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7403$2,0504$2,0505$2,075
$2,075
RENT COMPS ANALYSIS
  • 10625 Colony Glen Drive Alpharetta, 2
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.84
    •  
  • 10970 Spotted Pony Trail Alpharetta, 1
    • 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 1987
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.91
    •  
  • 10650 Buice Road Alpharetta, 3
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 1989
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.91
    •  
  • 10155 Barston Court Alpharetta, 4
    • 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 1994
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.96
    •  
  • 2610 Runic Way Alpharetta, 5
    • 4 beds 3 baths ∙ 2,245 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,245 Sqft ∙ Built 1984
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.92
    •  
PROPERTY LISTING DETAILS
Stephanie Shirley
1.404.903.2099
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6753630
Last Updated: 08/24/2020
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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