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10980 Mortons Crossing Alpharetta, GA 30022

3 Beds 3 Baths 1,926 sqft Built 1988

$329,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $170.82
  • 2 Days on Market
  • MLS # : 6810341
  • Updated Date : 11/28/2020 at 13:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,926 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

COMING SOON! No Showings Until 12-12 Wonderful Community with No HOA! Walking distance to Middle & High schools, All 3 are 9 rated! Huge Open floor plan w/ Cathedral ceilings, FP & Open dining area w/bay window. Newly remodeled Kitchen with pantry, granite & SS appliances. Laundry room and half bath off kitchen. At days end, Retreat to your Extra Large Master suite Oasis with recently updated bathroom. Enjoy your morning coffee on the relaxing front porch. Featuring a private Fenced backyard & nice long drvway on this beautiful corner lot! Park & Avalon nearby.

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

Neighborhood: Hunters Close

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $113k426k

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

Neighborhood: Hunters Close

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
State Bridge Crossing Elementary School Primary Regular 825 47 7
Taylor Road Middle School Middle Regular 1,043 74 8
Chattahoochee High School High Regular 1,879 102 9

State Bridge Crossing Elementary School

  • Education Level: Primary
  • # of students: 825
  • # of teachers: 47
7
GreatSchools Rating

Taylor Road Middle School

  • Education Level: Middle
  • # of students: 1,043
  • # of teachers: 74
8
GreatSchools Rating

Chattahoochee High School

  • Education Level: High
  • # of students: 1,879
  • # of teachers: 102
9
GreatSchools Rating
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,214
Property Tax -$300
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$13

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.

$329,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$21,432

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,830

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7103$1,7504$1,9005$1,975
$1,975
RENT COMPS ANALYSIS
  • 10980 Mortons Crossing Alpharetta, GA 2
    • 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.89
    •  
  • 10775 Mortons Crossing Alpharetta, GA 1
    • 4 beds 3 baths ∙ 1,818 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,818 Sqft ∙ Built 1988
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 10785 Mortons Crossing Johns Creek, GA 3
    • 3 beds 3 baths ∙ 1,975 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,975 Sqft ∙ Built 1988
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 10765 Morton Chase Way Alpharetta, GA 4
    • 4 beds 3 baths ∙ 1,899 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,899 Sqft ∙ Built 1994
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 4940 Tanners Spring Drive Johns Creek, GA 5
    • 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1988
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.97
    •  
PROPERTY LISTING DETAILS
Linda Olney Sikes
1.770.722.2043
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6810341
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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