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1320 Gran Forest Drive Cumming, GA 30041

3 Beds 2 Baths 2,088 sqft Built 1993

$389,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $186.73
  • 3 Days on Market
  • MLS # : 6852898
  • Updated Date : 03/13/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,088 sqft
  • Baths : 2 full
Listing Agent's Description

Gorgeous renovated ranch in Gran Forest, this move in ready beauty will have you smiling! Charming brick home with an oasis of a backyard, fully fenced and landscaped beautifully. Just picture your life here, greeting your guests in the foyer, entertaining with ease, this modern LVP flooring is worry free! A formal living room offers you a great spot for the home office or playroom, a formal dining room with tons of natural light will be the place you will gather with friends and family to make wonderful memories. This kitchen has been fully updated with rich painted

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30041

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k391k

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

Zip Code: 30041

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732079

* 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
Mashburn Elementary School Primary Regular 591 39 8
Lakeside Middle School Middle Regular 1,118 65 8
Forsyth Central High School High Regular 1,941 116 7

Mashburn Elementary School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 39
8
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 65
8
GreatSchools Rating

Forsyth Central High School

  • Education Level: High
  • # of students: 1,941
  • # of teachers: 116
7
GreatSchools Rating
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,354
Property Tax -$321
Property Insurance -$68
HOA -$48
Property Management Fees -$119
CASH FLOW
-$139

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.

$389,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,354

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$9,845

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,801

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7704$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 1320 Gran Forest Drive Cumming, GA 3
    • 3 beds 2 baths ∙ 2,088 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,088 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.85
    •  
  • 1710 Townview Lane Cumming, GA 1
    • 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 2013
    property image
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 1645 Townview Lane Cumming, GA 2
    • 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 2013
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 1525 Victoria Walk Cumming, GA 4
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 1996
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
  • 850 Timber Lake Trail Cumming, GA 5
    • 4 beds 2 baths ∙ 2,282 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,282 Sqft ∙ Built 1995
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
PROPERTY LISTING DETAILS
Rhonda Duffy
1.678.318.3613
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6852898
Last Updated: 03/13/2021
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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