Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1945 Overlook Run Place Cumming, GA 30040

4 Beds 3 Baths 2,922 sqft Built 2014

$415,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $142.03
  • 2 Days on Market
  • MLS # : 6855841
  • Updated Date : 03/20/2021 at 15:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,922 sqft
  • Baths : 3 full
Listing Agent's Description

Welcome Home! 4 bed 3 bath meticulously maintained home with hardwoods throughout main level! Gourmet kitchen with granite c-tops large island, Double Ovens, stainless steel Whirlpool appliances opens to breakfast room, living room with gas fireplace! Home has a bedroom and full bath on the main level perfect for guests! Upstairs you’ll find 3 bedrooms and a spacious media room, oversized master suite with His and Her closets and separate vanities in the bath! Private backyard! Too much to list! Must see!

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: 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
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,441
Property Tax -$342
Property Insurance -$84
HOA -$100
Property Management Fees -$119
CASH FLOW
$44

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.

$415,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.51%

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$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$23,074

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,330

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1303$2,2004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1945 Overlook Run Place Cumming, GA 2
    • 4 beds 3 baths ∙ 2,922 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,922 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.73
    •  
  • 2865 Willow Wisp Way Cumming, GA 1
    • 5 beds 3 baths ∙ 2,833 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,833 Sqft ∙ Built 2018
    property image
    LEASED 10/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
  • 2665 Canter Meadow Drive Cumming, GA 3
    • 4 beds 4 baths ∙ 2,796 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,796 Sqft ∙ Built 2019
    property image
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
  • 3470 Knobcone Drive Cumming, GA 4
    • 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2017
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
  • 3355 Pierview Drive Cumming, GA 5
    • 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2019
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
PROPERTY LISTING DETAILS
The North Georgia Group
1.404.997.2065
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6855841
Last Updated: 03/20/2021
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.

BESbswy