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3515 Jones Ferry Lane Alpharetta, GA 30022

2 Beds 2 Baths 1,126 sqft Built 1993

INVESTimate

$245,000

List Price

$1,430

$1,287 - $1,573

Rent Est.

$260,313  ( +6.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $217.58
  • 7 Days on Market
  • MLS # : 6770155
  • Updated Date : 08/21/2020 at 13:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,126 sqft
  • Baths : 2 full
Listing Agent's Description

Sun-Soaked and Spacious! An Inviting Front Porch welcomes you into Bright and Airy Interiors. Hardwood Floors extend across an Open Family Room with Fireplace, perfect for entertaining. A Classic, White Kitchen boasts Stainless Steel Appliances and Breakfast Bar. A Plush Master Bedroom offers a relaxing retreat with a Private Ensuite Bathroom. An Additional Bedroom enjoys a Hall Bathroom. Step outside to find a Large Screened Porch with Ceiling Fan perfect for Summer afternoons. A Fully Fenced Backyard and One-Car Garage complete this handsome home. Minutes from

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Newtown

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $113k560k

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

Neighborhood: Newtown

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
Dolvin Elementary School Primary Regular 878 52 9
Autrey Mill Middle School Middle Regular 1,385 93 9
Johns Creek High School High Regular 2,011 101 9

Dolvin Elementary School

  • Education Level: Primary
  • # of students: 878
  • # of teachers: 52
9
GreatSchools Rating

Autrey Mill Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 93
9
GreatSchools Rating

Johns Creek High School

  • Education Level: High
  • # of students: 2,011
  • # of teachers: 101
9
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$904
Property Tax -$237
Property Insurance -$49
HOA -$55
Property Management Fees -$119
CASH FLOW
$66

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.

$245,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.18%
Appreciation Year (1-5) 6.25%
Maintenance Year (1-5) 8.00%
Vacancy 7.74%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$20,186

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,351

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,430
$1,430
RENT COMPS ANALYSIS
  • 3515 Jones Ferry Lane Alpharetta, 2
    • 2 beds 2 baths ∙ 1,126 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,126 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.27
    •  
  • 3550 River Trace Drive Johns Creek, 1
    • 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1989 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1989
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.20
    •  
PROPERTY LISTING DETAILS
The Justin Landis Group
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770155
Last Updated: 08/21/2020
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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