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285 Shady Grove Lane Alpharetta, GA 30009

3 Beds 2 Baths 1,770 sqft Built 1985

$386,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $218.59
  • 4 Days on Market
  • MLS # : 6808525
  • Updated Date : 11/14/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,770 sqft
  • Baths : 2 full
Listing Agent's Description

This beautiful 3 bedroom and 2 bathroom home in Alpharetta is just minutes away from the area's highly-rated schools! You'll fall in love with the rustic hardwood floors that greet you when entering the home. The main living area is brightened up by a ton of natural light and the brick fireplace will keep you warm during the coming Wintertime. The kitchen is very spacious with plenty of extra pantry storage and an awesome gas stovetop. We love the amount of space in the primary bedroom and an extra bedroom could easily double as a home office!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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)

PRICE & RENT TRENDS

Zip Code: 30009

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $113k426k

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

Zip Code: 30009

ZipNIR 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
Alpharetta Elementary School Primary Regular 575 50 8
Hopewell Middle School Middle Regular 1,338 91 8
Cambridge High School High Regular 1,785 93 NA

Alpharetta Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 50
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
 

$348,210$425,590$386,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,427
Property Tax -$306
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$54

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.

$386,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.48%

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$200k$400k$600k$800k$1.0M$1.2M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,279

INVESTMENT

$108,279

Down Payment
$96,725
Rehab Estimate
$5,750
Closing Costs
$5,804

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,427

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,725
Loan Amount $290,175
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$20,022

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,934

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8604$2,2005$2,500
$2,500
RENT COMPS ANALYSIS
  • 285 Shady Grove Lane Alpharetta, GA 3
    • 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.05
    •  
  • 2335 Winthrope Way Drive Alpharetta, GA 1
    • 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1997
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.07
    •  
  • 1095 Winthrope Park Drive Alpharetta, GA 2
    • 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1997
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
  • 375 Lynne Circle Alpharetta, GA 4
    • 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1970
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.18
    •  
  • 220 Mayfield Circle Alpharetta, GA 5
    • 4 beds 3 baths ∙ 2,114 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,114 Sqft ∙ Built 1982
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.18
    •  
PROPERTY LISTING DETAILS
Michelle Sanders
1.678.884.7933
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808525
Last Updated: 11/14/2020
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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