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1685 Independence Trail Cumming, GA 30040

4 Beds 3 Baths 2,614 sqft Built 2006

$349,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $133.51
  • 4 Days on Market
  • MLS # : 6836407
  • Updated Date : 02/06/2021 at 14:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,614 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautifully maintained 4 bedroom 2.5 bath home in highly sought after Liberty subdivision. 2 story entrance foyer and huge dining room perfect for hosting your large gatherings. Gorgeous kitchen with breakfast area and view to backyard and family room with fireplace. An open floor plan through the main level with patio just off of the kitchen for outdoor enjoyment. Oversized master bedroom with sitting area perfect for relaxing. Easy access to GA 400 via Exit 13 or 14. Short drive to Avalon, Halcyon, shopping, restaurants Hardwood floors upstairs and down.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Liberty

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k379k

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

Neighborhood: Liberty

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9732273

* 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
Whitlow Elementary School Primary Regular 1,140 79 7
Otwell Middle School Middle Regular 1,159 73 7
Forsyth Central High School High Regular 1,941 116 7

Whitlow Elementary School

  • Education Level: Primary
  • # of students: 1,140
  • # of teachers: 79
7
GreatSchools Rating

Otwell Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 73
7
GreatSchools Rating

Forsyth Central High School

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

$314,100$383,900$349,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,212
Property Tax -$287
Property Insurance -$78
HOA -$117
Property Management Fees -$119
CASH FLOW
$147

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.

$349,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 4.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$28,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,117

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8504$1,9605$2,295
$2,295
RENT COMPS ANALYSIS
  • 1685 Independence Trail Cumming, GA 4
    • 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.75
    •  
  • 5650 Carrington Place Cumming, GA 1
    • 4 beds 3 baths ∙ 2,291 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,291 Sqft ∙ Built 2006
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 3310 Castleberry Village Drive Cumming, GA 2
    • 3 beds 3 baths ∙ 2,273 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,273 Sqft ∙ Built 2015
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 5605 Carrington Place Cumming, GA 3
    • 4 beds 3 baths ∙ 2,376 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,376 Sqft ∙ Built 2006
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 1670 Independence Trail Cumming, GA 5
    • 4 beds 3 baths ∙ 2,607 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,607 Sqft ∙ Built 2005
    property image
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.88
    •  
PROPERTY LISTING DETAILS
Geoffrey Warta
1.470.505.9655
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6836407
Last Updated: 02/06/2021
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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