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$850,000

For Sale - Active
1950 Heritage Walk, Alpharetta, GA 30004
2 Beds
0 Baths
2,794 Square Feet
0.00 Acres Lot
Built in 2006
For Sale - Active
1 Units
Checked: 19 hours ago
Updated: Jun 14, 2025 at 03:34AM

Investment Summary


Monthly Cash Flow
-$1,443
Cap Rate
4.2%
Cash-on-Cash Return
-8.9%
Debt Coverage Ratio
0.68
Internal Rate of Return (5 years)
-4.6%

Property Description


0.00 Acres Lot
Built in 2006
For Sale - Active
1 Units

Back on Market at no fault of Seller! Live the Coveted Crabapple Lifestyle. Welcome to one of the original-and rarely available-brownstones in the heart of the Crabapple Market District. This exceptional, all-brick detached home offers timeless charm, thoughtful updates, and unbeatable value compared to nearby new construction townhomes priced around $1.5 million. With 2 spacious bedrooms, 2.5 baths, and generous living areas, this home also features a versatile loft/office with built-in workspace. Enter through a charming gated front courtyard or via the rear-facing 2-car garage into a welcoming two-story foyer. The ground level includes a large guest suite with a full bath-ideal for visitors or multi-generational living. Upstairs, the main living area is bathed in natural light and features 10+ foot ceilings, hardwood floors, and floor-to-ceiling windows with elegant plantation shutters. The gourmet kitchen has been tastefully upgraded with honed Michelangelo quartz countertops, a stylish new backsplash, and a brand-new gas range. Adjacent spaces include a warm fireside great room, a large dining area, and a cozy keeping room-perfect for entertaining. The top floor is dedicated to the oversized primary suite, complete with an expansive custom walk-in closet, a spa-inspired bathroom with a double vanity, soaking tub, walk-in shower, and updated countertops. A separate laundry room and a sunny loft/office complete the upper level. Other highlights include: Four-sides brick construction with no shared walls; Newer systems (roof 3 years old, newer HVAC, water heater 2019); Finished garage floor with $7,500 in custom built-ins for optimal storage; Fully fenced yard; and HOA covers all yard maintenance for $650/quarter. All of this, just steps away from dozens of shops, restaurants, fitness studios, and healthcare providers. Crabapple is more than a neighborhood-it's a vibrant community. This is an investment in your quality of life - come see for yourself what makes this home and lifestyle so special.

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Location


Property Details


Parking

  • Description: Attached, Garage, Garage Door Opener, Garage Faces Rear
  • Details: Attached, Garage, Garage Door Opener
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 3
  • Basement Description: None
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Rock, Stone
  • Foundation: Slab
  • Roof Material: Composition

HOA

  • Has HOA: Yes
  • Association: Team Management
  • HOA Fee: $2,600/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 22400011351497
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Brick 4 Side, Traditional
  • Year Built: 2006

Tax Information

  • Annual Tax: $3,531

Utilities

  • Water & Sewer: Public
  • Heating: Central, Natural Gas, Zoned
  • Cooling: Ceiling Fan(s), Central Air, Zoned

Location

  • County: Fulton

Investment Summary


Monthly Cash Flow
-$1,443
Cap Rate
4.2%
Cash-on-Cash Return
-8.9%
Debt Coverage Ratio
0.68
Internal Rate of Return (5 years)
-4.6%

Purchase Details

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Purchase price:
$850,000
Amount financed:
-$680,000
Down payment:
$170,000
Closing costs:
$25,500
Rehab costs:
$0
Initial cash invested:
$195,500
Square feet:
2,794
Cost per square foot:
$304
Monthly rent per square foot:
$1.83

Financing Details

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Loan amount:
$680,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$4,451
Property tax:
$294
Insurance:
$357
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,102

Operating Income

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% Rent Monthly Yearly
Gross rent:
$5,100 $61,200
Vacancy loss: (6%)
6% -$306 -$3,672
Operating income:
$4,794 $57,528

Operating Expenses


% Rent Monthly Yearly
Property taxes: (6%)
6%-$294-$3,531
Insurance: (7%)
7%-$357-$4,284
Property management: (8%)
8%-$408-$4,896
Repairs & maintenance: (5%)
5%-$255-$3,060
Capital expenditures: (5%)
5%-$255-$3,060
HOA fees: (4%)
4%-$217-$2,604
Total operating expenses: (35%)
35%-$1,786-$21,435

Cash Flow


Monthly Yearly
Net operating income:
$3,008 $36,096
Mortgage payments:
-$4,451 -$53,412
Cash flow:
$1,443 $17,316