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1905 Tomahawk Lane Cumming, GA 30028

3 Beds 2 Baths 1,953 sqft Built 1989

$265,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $135.69
  • 2 Days on Market
  • MLS # : 6818444
  • Updated Date : 12/12/2020 at 20:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,953 sqft
  • Baths : 2 full
Listing Agent's Description

Location! Fantastic, large corner lot off of Dr Bramlett Rd, close to shopping, award winning schools, AND a pretty mountain view. Inside is light & airy with luxury vinyl flooring throughout, hardwoods in bedrooms, vaulted ceiling in liv room, updated hall bath with ceramic tile. Separate laundry/mudroom, 2019 hot water heater, newer HVAC. SS appliances in kitchen with access to the covered back deck. The finished garage makes for an awesome rec room & comes with a therapeutic hot tub. 3 sheds are on the property for extra storage too & the yard is already fenced.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30028

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k328k

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

Zip Code: 30028

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
Sawnee Elementary School Primary Regular 1,233 81 7
Otwell Middle School Middle Regular 1,159 73 7
Forsyth Central High School High Regular 1,941 116 7

Sawnee Elementary School

  • Education Level: Primary
  • # of students: 1,233
  • # of teachers: 81
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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$978
Property Tax -$218
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$180

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.

$265,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.7%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$35,047

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,595

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,5603$1,6454$1,950
$1,950
RENT COMPS ANALYSIS
  • 1905 Tomahawk Lane Cumming, GA 2
    • 3 beds 2 baths ∙ 1,953 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,953 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.80
    •  
  • 3250 Hurt Bridge Road Cumming, GA 1
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1987
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.68
    •  
  • 2635 Conley Drive Cumming, GA 3
    • 4 beds 2 baths ∙ 1,849 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,849 Sqft ∙ Built 1993
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.89
    •  
  • 2310 Nottingham Way Cumming, GA 4
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1997
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
PROPERTY LISTING DETAILS
Beka Rickman
1.404.606.3905
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6818444
Last Updated: 12/12/2020
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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