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5705 Grove Point Road Alpharetta, GA 30022

4 Beds 4 Baths 2,955 sqft Built 1987

$489,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $165.48
  • 4 Days on Market
  • MLS # : 6802746
  • Updated Date : 11/02/2020 at 10:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,955 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Relaxed elegance in gorgeous Farmhouse-style home in sought-after Medlock Bridge, top-rated schools & amenities. Beautiful inside & out! Freshly painted exterior brick w/ ALL NEW HARDIPLANK CEMENT SIDING, DRIVEWAY & WALKWAY. Newly painted neutral colors, 4 bdrms, 3.5 baths w/ MASTER ON MAIN. Easy access huge WALK-OUT STORAGE room on 2nd floor (no ladders/steps!). Split bdrms upstairs offer privacy w/ Jack & Jill bathroom, 3rd bedroom w/ en-suite bath. ADDITIONAL STORAGE in pull down attic. Spacious two-story foyer w/ HW floors. Light-filled kitchen has window at sink

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: Medlock Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $113k560k

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

Neighborhood: Medlock Bridge

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
Medlock Bridge Elementary School Primary Regular 670 48 9
Autrey Mill Middle School Middle Regular 1,385 93 9
Johns Creek High School High Regular 2,011 101 9

Medlock Bridge Elementary School

  • Education Level: Primary
  • # of students: 670
  • # of teachers: 48
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
 

$440,100$537,900$489,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$1,804
Property Tax -$446
Property Insurance -$84
HOA -$212
Property Management Fees -$119
CASH FLOW
$64

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.

$489,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.18%
Appreciation Year (1-5) 2.8%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,335

INVESTMENT

$135,335

Down Payment
$122,250
Rehab Estimate
$5,750
Closing Costs
$7,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,804

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,250
Loan Amount $366,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$32,023

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,438

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,5003$2,5504$2,7305$2,975
$2,975
RENT COMPS ANALYSIS
  • 5705 Grove Point Road Alpharetta, GA 4
    • 4 beds 4 baths ∙ 2,955 Sqft ∙ Built 1987 4 beds 4 baths ∙ 2,955 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $0.92
    •  
  • 340 Medridge Drive Johns Creek, GA 1
    • 4 beds 3 baths ∙ 2,803 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,803 Sqft ∙ Built 1995
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
  • 5190 Forest Run Trace Johns Creek, GA 2
    • 4 beds 4 baths ∙ 3,063 Sqft ∙ Built 1987 4 beds 4 baths ∙ 3,063 Sqft ∙ Built 1987
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.82
    •  
  • 5615 Morton Road Johns Creek, GA 3
    • 4 beds 3 baths ∙ 3,277 Sqft ∙ Built 1985 4 beds 3 baths ∙ 3,277 Sqft ∙ Built 1985
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.78
    •  
  • 555 Crossgate Trail Alpharetta, GA 5
    • 5 beds 5 baths ∙ 3,140 Sqft ∙ Built 1990 5 beds 5 baths ∙ 3,140 Sqft ∙ Built 1990
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $0.95
    •  
PROPERTY LISTING DETAILS
Caroline Cassar
1.917.257.2900
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6802746
Last Updated: 11/02/2020
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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