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645 Crossbridge Alley Alpharetta, GA 30022

2 Beds 2 Baths 1,057 sqft Built 1993

$257,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $243.14
  • 2 Days on Market
  • MLS # : 6815848
  • Updated Date : 12/05/2020 at 13:10
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,057 sqft
  • Baths : 2 full
Listing Agent's Description

Charming Updated Move-In Ready Home with High-End Stained, Soft Close Cabinets Kit/Baths. All W/ Granite Counters. Updated Recessed Lighting in KIT Sheetrock Ceilings. Hardwood Floors. Spacious KIT with Stainless Steel Refrigerator, Range, Microwave & Dishwasher. Home also includes a Full-size Washer & Dryer/All Appliances Stay! Baths Updated with Beautiful Tile Showers/Floors. Wonderful Loft with Plenty of Room for Exercise/ Separate Work Space. French Doors Lead to Spacious Garden/Patio. Additional Storage Space. Sought After Location! Front Lawn Serv Included in HOA.

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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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
 

$231,300$282,700$257,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$948
Property Tax -$234
Property Insurance -$48
HOA -$55
Property Management Fees -$119
CASH FLOW
$216

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.

$257,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.18%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,855

INVESTMENT

$73,855

Down Payment
$64,250
Rehab Estimate
$5,750
Closing Costs
$3,855

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,250
Loan Amount $192,750
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$37,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $1,490

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,975
$1,975
RENT COMPS ANALYSIS
  • 645 Crossbridge Alley Alpharetta, GA 1
    • 2 beds 2 baths ∙ 1,057 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,057 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.53
    •  
  • 2752 Wander Lane Alpharetta, GA 2
    • 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 2006
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.41
    •  
PROPERTY LISTING DETAILS
Melanie Cates
1.770.289.5862
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815848
Last Updated: 12/05/2020
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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