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1700 Fairburn Drive Cumming, GA 30040

4 Beds 3 Baths 2,196 sqft Built 1997

$330,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $150.27
  • 4 Days on Market
  • MLS # : 6856550
  • Updated Date : 03/26/2021 at 11:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,196 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Don't miss the amazing opportunity to purchase in Adair Park. You are going to fall in love with this beautiful 4 bedroom /2.5 bath home! Brand new flooring on the main level, fresh paint throughout, updated bathrooms, granite in kitchen, refreshed landscaping and so much more. This dream home sits on a corner lot and and has an amazing side and back yard that are perfect for playing or entertaining. Neighborhood has swim/ tennis will have direct access to the new Cumming City Center. This one has it all! ***All showings will begin Saturday, March 27th at 10am***

SEE MORE

MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30040

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k328k

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

Zip Code: 30040

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Cumming Elementary School Primary Regular 938 78 4
Otwell Middle School Middle Regular 1,159 73 7
Forsyth Central High School High Regular 1,941 116 7

Cumming Elementary School

  • Education Level: Primary
  • # of students: 938
  • # of teachers: 78
4
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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,146
Property Tax -$272
Property Insurance -$70
HOA -$37
Property Management Fees -$119
CASH FLOW
$227

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.

$330,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.3%
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

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$36,786

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,976

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,685
1$1,6852$1,870
$1,870
RENT COMPS ANALYSIS
  • 1700 Fairburn Drive Cumming, GA 2
    • 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.85
    •  
  • 1445 Parkside Village Drive Cumming, GA 1
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2009
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.90
    •  
PROPERTY LISTING DETAILS
Peter Marks
1.404.476.8171
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6856550
Last Updated: 03/26/2021
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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