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550 Grovsner Terrace Alpharetta, GA 30005

4 Beds 3 Baths 1,892 sqft Built 1989

$340,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $179.70
  • 4 Days on Market
  • MLS # : 6839335
  • Updated Date : 02/13/2021 at 16:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,892 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Gorgeous home in sought after Concord Hall! Swim/tennis community in Johns Creek/Alpharetta area. Entrance leads to welcoming family room and formal dining. Inviting kitchen with SS appliances and updated kitchen wall. Well-maintained throughout with newer carpet/flooring. Completely renovated stand-up shower, sink & cabinet in guest bathroom. New deck & staircase with access from master bedroom. Leveled and private fenced backyard. Perfect for families with kids! Fantastic top-rated schools in established neighborhood.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Concord Hall

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $113k426k

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

Neighborhood: Concord Hall

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
Lake Windward Elementary School Primary Regular 690 56 10
Taylor Road Middle School Middle Regular 1,043 74 8
Chattahoochee High School High Regular 1,879 102 9

Lake Windward Elementary School

  • Education Level: Primary
  • # of students: 690
  • # of teachers: 56
10
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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,181
Property Tax -$310
Property Insurance -$64
HOA -$35
Property Management Fees -$119
CASH FLOW
$181

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.

$340,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.3%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$32,243

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,849

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8504$1,8905$2,000
$2,000
RENT COMPS ANALYSIS
  • 550 Grovsner Terrace Alpharetta, GA 4
    • 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.00
    •  
  • 12675 Concord Hall Drive Johns Creek, GA 1
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1989
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 525 Grovsner Terrace Johns Creek, GA 2
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1989
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 4965 Hastings Terrace Alpharetta, GA 3
    • 3 beds 3 baths ∙ 2,046 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,046 Sqft ∙ Built 2006
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 2820 Saddlebrook Glen Drive Cumming, GA 5
    • 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 1999
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
Timothy Trevathan
1.770.906.0748
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6839335
Last Updated: 02/13/2021
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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