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715 Mae Lane Alpharetta, GA 30004

3 Beds 2 Baths 2,247 sqft Built 1999

$419,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $186.47
  • 8 Days on Market
  • MLS # : 6837366
  • Updated Date : 02/09/2021 at 17:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,247 sqft
  • Baths : 2 full
Listing Agent's Description

FANTASTIC HOME in SOUGHT AFTER CRABAPPLE! Just 2 min from d'twn. Crabapple & 5 min from Main St./Alpharetta! Meticulously maintained 3/2 Brick ranch in a Very friendly, minimal turnover neighborhood- Enclave@Crabapple - will go FAST! Beautifully upgraded kitchen w/quartz counters & stainless Samsung appliances are a highlight! custom tiled flooring from kitchen spills over into breakfast area & sitting room for your morning coffee, look onto your lovely shaded rear deck & garden area. Oversized master w/ private rear deck, & large master bath w/ extensive walk-in closet

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

Zip Code: 30004

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $113k447k

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

Zip Code: 30004

ZipNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9732843

* 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
Crabapple Crossing Elementary School Primary Regular 786 46 9
Northwestern Middle School Middle Regular 1,332 92 8
Milton High School High Regular 2,021 110 8

Crabapple Crossing Elementary School

  • Education Level: Primary
  • # of students: 786
  • # of teachers: 46
9
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
 

$377,100$460,900$419,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,455
Property Tax -$331
Property Insurance -$71
HOA -$25
Property Management Fees -$119
CASH FLOW
$99

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.

$419,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.5%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,785

INVESTMENT

$116,785

Down Payment
$104,750
Rehab Estimate
$5,750
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,455

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$29,482

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,140

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,1754$2,2005$2,495
$2,495
RENT COMPS ANALYSIS
  • 715 Mae Lane Alpharetta, GA 1
    • 3 beds 2 baths ∙ 2,247 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,247 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 545 Camber Woods Drive Roswell, GA 2
    • 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 1994
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.98
    •  
  • 12135 Wallace Woods Lane Alpharetta, GA 3
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1989
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.91
    •  
  • 12650 Morningpark Circle Milton, GA 4
    • 4 beds 3 baths ∙ 2,346 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,346 Sqft ∙ Built 2000
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.94
    •  
  • 12670 Morningpark Circle Alpharetta, GA 5
    • 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2000
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.98
    •  
PROPERTY LISTING DETAILS
Wade Hudson
1.404.271.0805
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837366
Last Updated: 02/09/2021
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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