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3198 Long Indian Creek Court Alpharetta, GA 30022

3 Beds 3 Baths 1,376 sqft Built 1984

$285,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $207.12
  • 6 Days on Market
  • MLS # : 6809816
  • Updated Date : 11/20/2020 at 12:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,376 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Must see! Completely renovated and move in ready charming Home in Alpharetta. Two-story home offers a one-car garage, 3BR/2.5BA Remodel Whit Beautiful kitchen.open concept living/dinning/kitchen. Large rear deck. new beautIful Bamboo Floors. NEW lighting fixtures, smooth ceilings. Recessed lighting in kitchen and living room. Integrated Bluetooth speaker in master bath. New HVAC.Great Great home at a value price! At great location.

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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)
  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Berkshire Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $113k426k

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

Neighborhood: Berkshire Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9392646

* 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
Northwood Elementary School Primary Regular 743 49 8
Haynes Bridge Middle School Middle Regular 742 61 6
Centennial High School High Regular 1,847 123 7

Northwood Elementary School

  • Education Level: Primary
  • # of students: 743
  • # of teachers: 49
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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,052
Property Tax -$225
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$240

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.

$285,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 9.0%
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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$43,970

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,686

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6904$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 3198 Long Indian Creek Court Alpharetta, GA 3
    • 3 beds 3 baths ∙ 1,376 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,376 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.23
    •  
  • 3095 Berkshire Manor Drive Alpharetta, GA 1
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1980
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.28
    •  
  • 10405 Ash Rill Drive Alpharetta, GA 2
    • 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 1984
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.18
    •  
  • 3263 Long Indian Creek Court Alpharetta, GA 4
    • 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 1983
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.22
    •  
  • 10550 Ash Rill Drive Alpharetta, GA 5
    • 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 1983
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.22
    •  
PROPERTY LISTING DETAILS
Sandra Garcia
1.678.973.8474
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6809816
Last Updated: 11/20/2020
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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