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13300 Morris Road # 89 Milton, GA 30004

3 Beds 3 Baths 1,370 sqft Built 2000

INVESTimate

$220,000

List Price

$1,540

$1,386 - $1,694

Rent Est.

$232,188  ( +5.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $160.58
  • 6 Days on Market
  • MLS # : 6768842
  • Updated Date : 08/24/2020 at 06:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,370 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

AMAZING opportunity to live minutes from all Alpharetta has to offer--amazing shopping, dining, & schools--for a fantastic price! This open layout townhome has durable laminate floors on main floor, with living room, dining space, & kitchen all in view. Newly fenced in yard offers functional outdoor space. Master suite boasts tall ceilings, walk in closet & bathroom with double vanities. Two secondary rooms & bathroom upstairs as well as convenient upstairs laundry. HVAC is just 2 years old & water heater 3 years old! Move right in & make your mark.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30004

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $113k625k

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

Zip Code: 30004

ZipNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000320034003600Rent in $9733712

* 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
Hopewell Middle School Middle Regular 1,338 91 8
Alpharetta High School High Regular 2,061 123 9

Manning Oaks Elementary School

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

Hopewell Middle School

  • Education Level: Middle
  • # of students: 1,338
  • # of teachers: 91
8
GreatSchools Rating

Alpharetta High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 123
9
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$812
Property Tax -$195
Property Insurance -$54
HOA -$170
Property Management Fees -$119
CASH FLOW
$191

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.

$220,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.54%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$29,949

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,651

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5503$1,6004$1,6505$1,900
$1,900
RENT COMPS ANALYSIS
  • 13300 Morris Road Milton, 1
    • 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.12
    •  
  • 13322 Harpley Court Alpharetta, 2
    • 3 beds 3 baths ∙ 1,362 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,362 Sqft ∙ Built 1998
    property image
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.14
    •  
  • 3491 Avensong Village Circle Alpharetta, 3
    • 3 beds 3 baths ∙ 1,376 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,376 Sqft ∙ Built 1996
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.16
    •  
  • 3311 Avensong Village Circle Alpharetta, 4
    • 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 1995
    property image
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.19
    •  
  • 3572 Avensong Village Circle Alpharetta, 5
    • 3 beds 3 baths ∙ 1,429 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,429 Sqft ∙ Built 1996
    property image
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.33
    •  
PROPERTY LISTING DETAILS
Libby Bramlett
1.678.409.3076
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6768842
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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