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1709 Indian Way Cumming, GA 30040

2 Beds 3 Baths 1,440 sqft Built 2001

INVESTimate

$189,900

List Price

$1,380

$1,242 - $1,518

Rent Est.

$201,883  ( +6.31%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $131.88
  • 3 Days on Market
  • MLS # : 6771465
  • Updated Date : 08/25/2020 at 17:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,440 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

VACANT!! Come see this tri-level townhome in Pilgrim Lake! This home offers a NEW ROOF, fresh interior two-tone paint, new vinyl flooring and new carpet. The ground floor has a one car garage and storage area. On the first floor is a spacious living room with a fireplace, dining room and kitchen and half bath for guests' convenience. The kitchen features ample cabinet and counter space and new stainless steel appliances including a new gas range. On the second floor are two bedrooms, both with ensuite bathrooms and walk in closets, and the laundry. Fenced backyard

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 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
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$701
Property Tax -$156
Property Insurance -$55
HOA -$73
Property Management Fees -$119
CASH FLOW
$276

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.

$189,900

PROJECTED PRICE

$1,380

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.31%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

11.75

YEARS SAVED

$40,618

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,339

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,400
$1,400
RENT COMPS ANALYSIS
  • 1709 Indian Way Cumming, 1
    • 2 beds 3 baths ∙ 1,440 Sqft ∙ Built 2001 2 beds 3 baths ∙ 1,440 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.96
    •  
  • 1810 Pilgrim Mill Road Cumming, 2
    • 2 beds 2 baths ∙ 1,508 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,508 Sqft ∙ Built 1983
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jacqueline Shaffer
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6771465
Last Updated: 08/25/2020
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. © 2017 First Multiple Listing Service, Inc.

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