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2556 Wander Trail Alpharetta, GA 30022

2 Beds 3 Baths 1,470 sqft Built 2006

$315,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $214.29
  • 7 Days on Market
  • MLS # : 6825906
  • Updated Date : 01/29/2021 at 13:12
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,470 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Move In Ready! Gorgeous Community built by The Providence Group! Beautiful 2 story 2 bedroom 2 1/2 bath end unit cozy Condo awaits you in The Enclave at Milton Park! All hardwood floors, spacious room mate floor plan with walk in closets!Granite countertops and stainless appliances, freshly painted ! Open Floor plan with fireplace in family room !All hardwood floors, beautiful neutral palette ! Natural daylight that brightens every room and a covered patio with views of the beautiful greenway. Walking distance from restaurants and shops and a 5 minute drive to Avalon.

SEE MORE

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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)
  • #1 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Zip Code: 30022

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $113k426k

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

Zip Code: 30022

ZipNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9732708

* 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
New Prospect Elementary School Primary Regular 496 40 8
Webb Bridge Middle School Middle Regular 1,391 92 9
Alpharetta High School High Regular 2,061 123 9

New Prospect Elementary School

  • Education Level: Primary
  • # of students: 496
  • # of teachers: 40
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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,094
Property Tax -$282
Property Insurance -$56
HOA -$213
Property Management Fees -$119
CASH FLOW
$146

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.

$315,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.4%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$25,063

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $2,073

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$1,910
1$1,9102$1,975
$1,975
RENT COMPS ANALYSIS
  • 2556 Wander Trail Alpharetta, GA 1
    • 2 beds 3 baths ∙ 1,470 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,470 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.30
    •  
  • 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
Kelly Keeter
1.678.923.8644
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6825906
Last Updated: 01/29/2021
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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