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165 Park Creek Drive Alpharetta, GA 30005

4 Beds 3 Baths 2,559 sqft Built 1995

$489,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $191.09
  • 6 Days on Market
  • MLS # : 6837997
  • Updated Date : 02/13/2021 at 11:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,559 sqft
  • Baths : 3 full
Listing Agent's Description

Wonderful Alpharetta location! Gorgeous hardcoat Stucco with Open floor plan. Vaulted 2-Story Foyer flanked by Vaulted Formal Living room and formal Dining room, open to 2 story Fireside Family Room with rear wall of windows and built-in shelving, Chef's Kitchen with Granite Countertops & SS electric appliances. Guest Suite and Full Bath on main. Two Large BR up share Full Bath. Master Suite up with Fireside Sitting Area, Walk-in Closet & en suite bath with double vanity, whirlpool tub, separate shower and water closet. Screened Porch. Side Entry 2 Car Garage.

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

Zip Code: 30005

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k455k

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

Zip Code: 30005

ZipNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9732648

* 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
Creek View Elementary School Primary Regular 976 55 8
Webb Bridge Middle School Middle Regular 1,391 92 9
Alpharetta High School High Regular 2,061 123 9

Creek View Elementary School

  • Education Level: Primary
  • # of students: 976
  • # of teachers: 55
8
GreatSchools Rating

Webb Bridge Middle School

  • Education Level: Middle
  • # of students: 1,391
  • # of teachers: 92
9
GreatSchools Rating

Alpharetta High School

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

$440,100$537,900$489,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,698
Property Tax -$403
Property Insurance -$77
HOA -$78
Property Management Fees -$119
CASH FLOW
$155

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.

$489,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.3%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,335

INVESTMENT

$135,335

Down Payment
$122,250
Rehab Estimate
$5,750
Closing Costs
$7,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,698

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,250
Loan Amount $366,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$37,006

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,265

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2993$2,3004$2,4005$2,530
$2,530
RENT COMPS ANALYSIS
  • 165 Park Creek Drive Alpharetta, GA 5
    • 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.99
    •  
  • 775 Highmeade Terrace Alpharetta, GA 1
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1995
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 6181 Water Lilly Drive Alpharetta, GA 2
    • 3 beds 2 baths ∙ 2,629 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,629 Sqft ∙ Built 1989
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $0.87
    •  
  • 3005 Big Creek Court Alpharetta, GA 3
    • 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 1980
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.96
    •  
  • 345 Creekside Drive Alpharetta, GA 4
    • 4 beds 3 baths ∙ 2,669 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,669 Sqft ∙ Built 1993
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.90
    •  
PROPERTY LISTING DETAILS
Maria Licata
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837997
Last Updated: 02/13/2021
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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