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7585 Scarlet Drive Alpharetta, GA 30005

4 Beds 4 Baths 2,637 sqft Built 2013

$490,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $185.82
  • 4 Days on Market
  • MLS # : 6843099
  • Updated Date : 02/26/2021 at 15:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,637 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Welcome to gated Jamestown...Only blocks away from Halcyon! Walk to your favorite restaurant or shopping.Easy access to Greenway. This home offers a beautiful & private courtyard. Main level has beautiful new floors that are extremely pet & people friendly. Kitchen is perfect for entertaining w/double ovens & huge island! One level up is the Master bedroom & Bath, 2 secondary bedrooms w/ Jack n Jill bath, Small playroom & Laundry room. Another level up is the 4th bedroom w/private bath.Yard is completely fenced for privacy and pets. GATE CODE IS 4363

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30005

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k455k

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

Zip Code: 30005

ZipNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9732648

* 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
Brandywine Elementary School Primary Regular NA
Desana Middle School Middle Regular NA
Denmark High School High Unknown NA

Brandywine Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Desana Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Denmark High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$441,000$539,000$490,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,702
Property Tax -$403
Property Insurance -$78
HOA -$179
Property Management Fees -$119
CASH FLOW
-$91

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.

$490,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.49%

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$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$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$16,094

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,406

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3903$2,5954$2,5995$2,800
$2,800
RENT COMPS ANALYSIS
  • 7585 Scarlet Drive Alpharetta, GA 2
    • 4 beds 4 baths ∙ 2,637 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,637 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.91
    •  
  • 5105 Harbour Ridge Drive Alpharetta, GA 1
    • 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 1995
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.85
    •  
  • 2695 Highland Pass Alpharetta, GA 3
    • 5 beds 4 baths ∙ 2,802 Sqft ∙ Built 1999 5 beds 4 baths ∙ 2,802 Sqft ∙ Built 1999
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.93
    •  
  • 7490 Flintlock Way Alpharetta, GA 4
    • 4 beds 4 baths ∙ 2,831 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,831 Sqft ∙ Built 2014
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,599
    • $0.92
    •  
  • 170 Fieldstone Edge Alpharetta, GA 5
    • 5 beds 4 baths ∙ 2,962 Sqft ∙ Built 1993 5 beds 4 baths ∙ 2,962 Sqft ∙ Built 1993
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.95
    •  
PROPERTY LISTING DETAILS
Jill Hensley
1.770.856.3266
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6843099
Last Updated: 02/26/2021
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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