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$245,000

Sold
124 Sterling Ct, Alpharetta, GA 30004
2 Beds
0 Baths
1,250 Square Feet
0.00 Acres Lot
Built in 1982
Sold
1 Units
Checked: 22 hours ago
Updated: Jul 08, 2025 at 02:01AM

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$72
Cap Rate
6.5%
Cash-on-Cash Return
1.5%
Debt Coverage Ratio
1.06
Internal Rate of Return (5 years)
5.5%

Property Description


0.00 Acres Lot
Built in 1982
Sold
1 Units

Second floor condominium in the perfect location. Close to shopping and easy access to 400. This unit is set back from the main road and backs up to a wood line where you can enjoy the view from your back deck. You can easily walk to the pool and all your guests can join you since there is plenty of parking near the building. Inside the unit you will find a galley kitchen right off the family room so you never have to take your eyes off the kiddos. Let this low cost HOA take care of the outside while you kick up your feet and relax on the weekends. Unit will need carpet and seller is offering a $4,000 flooring allowance.

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Location


Property Details


Parking

  • Description: Guest, Off Street
  • Details: Guest, Off Street
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 2
  • Basement Description: None
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Block
  • Foundation: Slab
  • Roof Material: Composition

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 22514412560322
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Other
  • Year Built: 1982

Tax Information

  • Annual Tax: $635

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas
  • Cooling: Central Air

Location

  • County: Fulton

Listing Details


Listed by:
Courtney Jeromin
Atlanta Communities
(770) 240-2004

Source:
Georgia MLS
MLS#: 10130142
Georgia MLS

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$72
Cap Rate
6.5%
Cash-on-Cash Return
1.5%
Debt Coverage Ratio
1.06
Internal Rate of Return (5 years)
5.5%

Purchase Details

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Purchase price:
$245,000
Amount financed:
-$196,000
Down payment:
$49,000
Closing costs:
$7,350
Rehab costs:
$0
Initial cash invested:
$56,350
Square feet:
1,250
Cost per square foot:
$196
Monthly rent per square foot:
$1.60

Financing Details

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Loan amount:
$196,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,255
Property tax:
$53
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,448

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (3%)
3%-$53-$635
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (28%)
28%-$553-$6,635

Cash Flow


Monthly Yearly
Net operating income:
$1,327 $15,924
Mortgage payments:
-$1,255 -$15,060
Cash flow:
$72 $864