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3270 Serenade Court Alpharetta, GA 30004

3 Beds 3 Baths 2,331 sqft Built 1997

$355,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $152.30
  • 2 Days on Market
  • MLS # : 6811696
  • Updated Date : 11/21/2020 at 12:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,331 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

AMAZING OPPORTUNITY to own in the highly desirable Avensong subdivision and Award Winning Cambridge High School District! This lovely 3 bedroom and 2.5 bath is a must see! Home is in excellent condition, freshly painted, new carpeting, plus new roof and irrigation system installed in 2018.  Kitchen features white cabinets and stainless steel appliances with an open view to the breakfast nook and family room.  Large family room with two story vaulted ceilings and gas fireplace that looks out to a large private fenced in back yard and deck.

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)
  • 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: Avensong

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $113k625k

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

Neighborhood: Avensong

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000320034003600Rent in $8673712

* 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
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,310
Property Tax -$286
Property Insurance -$72
HOA -$47
Property Management Fees -$119
CASH FLOW
$116

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.

$355,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.9%
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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$32,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,150

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$1,9504$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 3270 Serenade Court Alpharetta, GA 3
    • 3 beds 3 baths ∙ 2,331 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,331 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 125 Lembeth Court Milton, GA 1
    • 3 beds 3 baths ∙ 2,074 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,074 Sqft ∙ Built 1999
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 13614 Weycroft Circle Milton, GA 2
    • 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 1999
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
  • 735 Alstonefield Drive Alpharetta, GA 4
    • 3 beds 3 baths ∙ 2,261 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,261 Sqft ∙ Built 2000
    property image
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 580 Alstonfield Drive Alpharetta, GA 5
    • 4 beds 4 baths ∙ 2,160 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,160 Sqft ∙ Built 2000
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.02
    •  
PROPERTY LISTING DETAILS
Robert Petrina
1.770.823.6175
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6811696
Last Updated: 11/21/2020
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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