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340 Hermitage Trail Alpharetta, GA 30004

4 Beds 3 Baths 2,802 sqft Built 1997

$429,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $153.10
  • 2 Days on Market
  • MLS # : 6833959
  • Updated Date : 01/30/2021 at 22:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,802 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautifully updated home on a fabulous fenced CUL-DE-SAC LOT with a flat backyard that your kids and/or pets will LOVE! Inside you will find brand new paint throughout and new luxurious vinyl plank flooring on the main level + brand new carpet upstairs. MOVE IN READY! Everything has been updated! Kitchen features granite counters, tile backsplash, & stainless appliances. The fireside family room is spacious and boasts gorgeous built-in cabinets and an incredible large scale ceiling fan. All bedrooms plus laundry are conveniently located on the 2nd floor. Retreat to

SEE MORE

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: Sable Point

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $113k560k

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

Neighborhood: Sable Point

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
Birmingham Falls Elementary School Primary Regular 732 48 9
Hopewell Middle School Middle Regular 1,338 91 8
Cambridge High School High Unknown NA

Birmingham Falls Elementary School

  • Education Level: Primary
  • # of students: 732
  • # of teachers: 48
9
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:
  • # of teachers:
NA
GreatSchools Rating
 

$386,100$471,900$429,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,490
Property Tax -$339
Property Insurance -$81
HOA -$33
Property Management Fees -$119
CASH FLOW
$417

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.

$429,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.18%
Appreciation Year (1-5) 8.1%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,490

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

9.92

YEARS SAVED

$62,270

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,802

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,480
1$2,4802$2,800
$2,800
RENT COMPS ANALYSIS
  • 340 Hermitage Trail Alpharetta, GA 1
    • 4 beds 3 baths ∙ 2,802 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,802 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.89
    •  
  • 370 Sablewood Drive Alpharetta, GA 2
    • 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2000
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.00
    •  
PROPERTY LISTING DETAILS
Kelly B Rosen
1.770.568.9241
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6833959
Last Updated: 01/30/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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