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11340 Musette Circle Alpharetta, GA 30009

3 Beds 3 Baths 2,448 sqft Built 2005

$369,900

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $151.10
  • 3 Days on Market
  • MLS # : 6860561
  • Updated Date : 03/27/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,448 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

PRIME LOCATION, TOP RATED SCHOOLS, & MOVE IN READY! This spacious & meticulously maintained 3 bedroom/2.5 bath, 3 level/end unit townhome is located just minutes from Downtown Alpharetta, Avalon, Ameris Bank Amphitheater, Top Golf, North Point Parkway, and GA-400! Enjoy impressive upgrades to the lighting and audio, home theatre, large open kitchen overlooking the cozy sitting room complete w/custom stacked stone fireplace and access to your personal deck perfect for morning coffee and evening drinks.

SEE MORE

MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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)
  • 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: 30009

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $113k426k

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

Zip Code: 30009

ZipNIR 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
Manning Oaks Elementary School Primary Regular 813 54 6
Northwestern Middle School Middle Regular 1,332 92 8
Milton High School High Regular 2,021 110 8

Manning Oaks Elementary School

  • Education Level: Primary
  • # of students: 813
  • # of teachers: 54
6
GreatSchools Rating

Northwestern Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 92
8
GreatSchools Rating

Milton High School

  • Education Level: High
  • # of students: 2,021
  • # of teachers: 110
8
GreatSchools Rating
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,285
Property Tax -$298
Property Insurance -$74
HOA -$240
Property Management Fees -$119
CASH FLOW
$53

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.

$369,900

PROJECTED PRICE

$2,070

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.1%
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$1.2M

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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$19,743

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,142

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0703$2,1504$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 11340 Musette Circle Alpharetta, GA 2
    • 3 beds 3 baths ∙ 2,448 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,448 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.85
    •  
  • 11339 Musette Circle Alpharetta, GA 1
    • 3 beds 3 baths ∙ 2,448 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,448 Sqft ∙ Built 2005
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.81
    •  
  • 140 Quay Circle Alpharetta, GA 3
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1999
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.83
    •  
  • 3071 Maple Lane Alpharetta, GA 4
    • 3 beds 3 baths ∙ 2,465 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,465 Sqft ∙ Built 1985
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 165 Sweetwater Trace Roswell, GA 5
    • 3 beds 3 baths ∙ 2,257 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,257 Sqft ∙ Built 1992
    property image
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.97
    •  
PROPERTY LISTING DETAILS
Mark Spain
1.770.886.9000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6860561
Last Updated: 03/27/2021
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.

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