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5034 Weathervane Drive Alpharetta, GA 30022

4 Beds 3 Baths 2,624 sqft Built 2006

$485,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $184.83
  • 3 Days on Market
  • MLS # : 6860582
  • Updated Date : 03/27/2021 at 17:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,624 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

New exterior and interior paint. Great Location. Desired Schools: Chattahoochee HS-Taylor Road MS-Abbotts Hill ES. Executive 3 side brick Home. ROCKING CHAIR Front Porch; Flat Park-Like Yard. Upgraded Gourmet Kitchen all granite w/large island, crown molding, 10Ft ceilings, Hardwood Flooring, Butler's Pantry, B fast Bar & B fast Nook Overlooking FS Family Room, built in bookshelf with upgraded cabinetry w/granite, Hardwood Floor, Formal Study, w/crown molding, best-selling floor plan! Beautiful master suite with sitting room. Master Spa Bath with huge walk-in closet.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ocee

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $113k426k

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

Neighborhood: Ocee

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9732646

* 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
Abbotts Hill Elementary School Primary Regular 723 44 8
Taylor Road Middle School Middle Regular 1,043 74 8
Chattahoochee High School High Regular 1,879 102 9

Abbotts Hill Elementary School

  • Education Level: Primary
  • # of students: 723
  • # of teachers: 44
8
GreatSchools Rating

Taylor Road Middle School

  • Education Level: Middle
  • # of students: 1,043
  • # of teachers: 74
8
GreatSchools Rating

Chattahoochee High School

  • Education Level: High
  • # of students: 1,879
  • # of teachers: 102
9
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,685
Property Tax -$442
Property Insurance -$78
HOA -$122
Property Management Fees -$119
CASH FLOW
-$125

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.

$485,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.3%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$13,875

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,303

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,3004$2,3205$2,350
$2,350
RENT COMPS ANALYSIS
  • 5034 Weathervane Drive Alpharetta, GA 4
    • 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.88
    •  
  • 235 Tanners Court Johns Creek, GA 1
    • 3 beds 3 baths ∙ 2,456 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,456 Sqft ∙ Built 1989
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 4931 Anclote Drive Johns Creek, GA 2
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 1989
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 1145 Olivine Drive Alpharetta, GA 3
    • 3 beds 3 baths ∙ 2,544 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,544 Sqft ∙ Built 1991
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.90
    •  
  • 290 Ambleside Chase Alpharetta, GA 5
    • 5 beds 3 baths ∙ 2,602 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,602 Sqft ∙ Built 1993
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jae Yeun Lee
1.678.907.1587
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6860582
Last Updated: 03/27/2021
support@investimateroi.com

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