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1555 Kilmington Court Alpharetta, GA 30009

2 Beds 3 Baths 1,218 sqft Built 2000

$219,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $180.54
  • 2 Days on Market
  • MLS # : 6803313
  • Updated Date : 11/02/2020 at 15:10
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,218 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Amazing opportunity in Briargate! This end unit, 2 bedrooms, 2.5-bathroom townhome is located off Maxwell Rd in Alpharetta. The community has a gated pool and is walking distance to everything Downtown Alpharetta has to offer, also nearby Wills Park, Verizon Amphitheatre, North Point Mall and much more. This cozy townhome has a private patio, built in fireplace, and large spacious closets. Conveniently located near GA 400, great shopping, and fabulous restaurants.

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

Neighborhood: Briargate

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $93k426k

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

Neighborhood: Briargate

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
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
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$811
Property Tax -$178
Property Insurance -$51
HOA -$145
Property Management Fees -$119
CASH FLOW
$246

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.

$219,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.70%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$37,739

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,717

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,975
$1,975
RENT COMPS ANALYSIS
  • 1555 Kilmington Court Alpharetta, GA 1
    • 2 beds 3 baths ∙ 1,218 Sqft ∙ Built 2000 2 beds 3 baths ∙ 1,218 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.27
    •  
  • 2752 Wander Lane Alpharetta, GA 2
    • 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 2006
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.41
    •  
PROPERTY LISTING DETAILS
Chuck Macphee Jr
1.404.234.7286
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803313
Last Updated: 11/02/2020
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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