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2960 Abbottswell Drive Alpharetta, GA 30022

4 Beds 3 Baths 2,738 sqft Built 1985

$459,900

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $167.97
  • 2 Days on Market
  • MLS # : 6818452
  • Updated Date : 12/12/2020 at 20:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,738 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Look no farther....very sought after beautiful subdivision. Large kitchen with new granite countertops. Spacious deck overlooking wooded, fenced in backyard. Updated master bath with huge walk in shower. Formal living room and dining room. Gorgeous hardwoods on entire main level. Spacious master with trey ceiling. Full hall bath with double sinks. Freshly painted and new carpet upstairs. Spacious laundry room with sink and nearby laundry chute. Front door camera with motion detector and keypad garage entry. Cozy den with gas log fireplace and built-ins. Low annual HOA

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

Neighborhood: Saint Clair

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $113k560k

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

Neighborhood: Saint Clair

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200Rent in $9733324

* 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
Hillside Elementary School Primary Regular 691 55 8
Haynes Bridge Middle School Middle Regular 742 61 6
Centennial High School High Regular 1,847 123 7

Hillside Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 55
8
GreatSchools Rating

Haynes Bridge Middle School

  • Education Level: Middle
  • # of students: 742
  • # of teachers: 61
6
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 1,847
  • # of teachers: 123
7
GreatSchools Rating
 

$413,910$505,890$459,900

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,697
Property Tax -$419
Property Insurance -$80
HOA -$63
Property Management Fees -$119
CASH FLOW
-$78

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.

$459,900

PROJECTED PRICE

$2,300

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.18%
Appreciation Year (1-5) 5.4%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$127,624

INVESTMENT

$127,624

Down Payment
$114,975
Rehab Estimate
$5,750
Closing Costs
$6,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,975
Loan Amount $344,925
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$20,659

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,320

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,3004$2,3005$2,795
$2,795
RENT COMPS ANALYSIS
  • 2960 Abbottswell Drive Alpharetta, GA 4
    • 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
  • 3115 Park Chase Alpharetta, GA 1
    • 3 beds 3 baths ∙ 2,532 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,532 Sqft ∙ Built 1991
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 731 Ashley Glen Lane Johns Creek, GA 2
    • 4 beds 3 baths ∙ 2,785 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,785 Sqft ∙ Built 1997
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
  • 2950 Georgian Manor Drive Alpharetta, GA 3
    • 5 beds 4 baths ∙ 3,000 Sqft ∙ Built 1988 5 beds 4 baths ∙ 3,000 Sqft ∙ Built 1988
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 730 Eider Down Court Alpharetta, GA 5
    • 5 beds 4 baths ∙ 2,911 Sqft ∙ Built 1990 5 beds 4 baths ∙ 2,911 Sqft ∙ Built 1990
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.96
    •  
PROPERTY LISTING DETAILS
Dina Cox
1.678.910.4100
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6818452
Last Updated: 12/12/2020
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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