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2824 Soneley Way Alpharetta, GA 30004

2 Beds 2 Baths 1,410 sqft Built 2003

$345,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $244.68
  • 2 Days on Market
  • MLS # : 6826067
  • Updated Date : 01/09/2021 at 21:40
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,410 sqft
  • Baths : 2 full
Listing Agent's Description

This recently renovated 2 BR/2 BA Ranch home, is located in the sought after neighborhood of Court at Windward Village. Updated eat-in kitchen boasts crisp white cabinets, beautiful stone countertops, with new range and refrigerator. New hardwood floors throughout the home, with tile baths. Frameless glass shower doors in the Masterbath and large walk-in closet. The laundry room features a brand new Whirlpool Washer and Dryer. All of this situated in a convenient, friendly neighborhood,

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Windward Village West

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $113k625k

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

Neighborhood: Windward Village West

NeighborhoodNIR 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
Cogburn Woods Elementary School Primary Regular 915 55 8
Hopewell Middle School Middle Regular 1,338 91 8
Cambridge High School High Regular 1,785 93 NA

Cogburn Woods Elementary School

  • Education Level: Primary
  • # of students: 915
  • # of teachers: 55
8
GreatSchools Rating

Hopewell Middle School

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

Cambridge High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 93
NA
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,198
Property Tax -$273
Property Insurance -$54
HOA -$135
Property Management Fees -$119
CASH FLOW
$31

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$345,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.18%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.74%
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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$18,365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $1,812

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,5003$1,7004$1,7005$1,810
$1,810
RENT COMPS ANALYSIS
  • 2824 Soneley Way Alpharetta, GA 5
    • 2 beds 2 baths ∙ 1,410 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,410 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.28
    •  
  • 760 Avening Court Milton, GA 1
    • 2 beds 3 baths ∙ 1,104 Sqft ∙ Built 1996 2 beds 3 baths ∙ 1,104 Sqft ∙ Built 1996
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.36
    •  
  • 13426 Aventide Lane Alpharetta, GA 2
    • 2 beds 2 baths ∙ 1,150 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,150 Sqft ∙ Built 1997
    property image
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.30
    •  
  • 211 Harmony Court Alpharetta, GA 3
    • 2 beds 3 baths ∙ 1,322 Sqft ∙ Built 1998 2 beds 3 baths ∙ 1,322 Sqft ∙ Built 1998
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.29
    •  
  • 3522 Avensong Village Circle Milton, GA 4
    • 2 beds 2 baths ∙ 1,432 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,432 Sqft ∙ Built 1996
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.19
    •  
PROPERTY LISTING DETAILS
Deborah Gannon Jessop
1.843.283.2108
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6826067
Last Updated: 01/09/2021
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. © 2017 First Multiple Listing Service, Inc.

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