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440 Jon Scott Drive Alpharetta, GA 30009

3 Beds 2 Baths 1,358 sqft Built 1977

$325,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $239.32
  • 4 Days on Market
  • MLS # : 6824181
  • Updated Date : 01/08/2021 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,358 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Location, Location, Location!!! Charming ranch home available in the heart of Alpharetta, blocks from Avalon and downtown Alpharetta. Interior has been updated with new flooring, an updated kitchen and updated bathrooms! Huge back yard with a storage shed. Plenty of parking! Almost a half acre lot. Great opportunity in a prime location! The property is tenant occupied, so showings are appointment only. Don't miss this one!

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Alpha Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $112k426k

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

Neighborhood: Alpha Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9162646

* 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
Manning Oaks Elementary School Primary Regular 813 54 6
Northwestern Middle School Middle Regular 1,332 92 8
Milton High School High Regular 2,021 110 8

Manning Oaks Elementary School

  • Education Level: Primary
  • # of students: 813
  • # of teachers: 54
6
GreatSchools Rating

Northwestern Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 92
8
GreatSchools Rating

Milton High School

  • Education Level: High
  • # of students: 2,021
  • # of teachers: 110
8
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,129
Property Tax -$268
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$91

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.

$325,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.1%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$24,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,779

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,6753$1,8504$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 440 Jon Scott Drive Alpharetta, GA 1
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.22
    •  
  • 408 Karen Drive Alpharetta, GA 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1960
    property image
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.16
    •  
  • 351 Jon Scott Drive Alpharetta, GA 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1960
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.16
    •  
  • 520 Jon Scott Drive Alpharetta, GA 4
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1979
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.52
    •  
  • 50 Wills Drive Alpharetta, GA 5
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1970
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.40
    •  
PROPERTY LISTING DETAILS
Bob Clarkson
1.404.901.1670
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6824181
Last Updated: 01/08/2021
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. © 2017 First Multiple Listing Service, Inc.

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