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12540 Cornish Court Alpharetta, GA 30005

3 Beds 2 Baths 1,778 sqft Built 1990

$305,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $171.54
  • 3 Days on Market
  • MLS # : 6816883
  • Updated Date : 12/12/2020 at 14:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,778 sqft
  • Baths : 2 full
Listing Agent's Description

A ranch in Alpharetta and close to everything!! Wow, this won't last long at all. Perfect for a retiree downsizing, first time home buyer, or young family desiring the best schools, awesome floor plan, located in a cul-de-sac and short walk to the swim/tennis, and the perfect sized fenced in backyard! Brand new garage doors, new mailbox, new Champion Insulated windows, new smoke and carbon monoxide detectors, new ceiling fans and HSA Home Warranty in place! Disclosures attached to listing

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Concord Hall

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $113k426k

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

Neighborhood: Concord Hall

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
Lake Windward Elementary School Primary Regular 690 56 10
Taylor Road Middle School Middle Regular 1,043 74 8
Chattahoochee High School High Regular 1,879 102 9

Lake Windward Elementary School

  • Education Level: Primary
  • # of students: 690
  • # of teachers: 56
10
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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,125
Property Tax -$300
Property Insurance -$62
HOA -$19
Property Management Fees -$119
CASH FLOW
$165

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.

$305,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.3%
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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$34,582

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,791

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,8003$1,8004$1,8005$2,100
$2,100
RENT COMPS ANALYSIS
  • 12540 Cornish Court Alpharetta, GA 1
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.01
    •  
  • 1435 Kingfield Drive Alpharetta, GA 2
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1990
    property image
    LEASED 07/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 12675 Concord Hall Drive Johns Creek, GA 3
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1989
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 525 Grovsner Terrace Johns Creek, GA 4
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1989
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 7045 Brassfield Drive Cumming, GA 5
    • 4 beds 3 baths ∙ 2,091 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,091 Sqft ∙ Built 1997
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
PROPERTY LISTING DETAILS
Anthony Laborde
1.678.918.1340
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6816883
Last Updated: 12/12/2020
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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