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1955 Carla Drive Cumming, GA 30028

3 Beds 1 Baths 1,294 sqft Built 1975

$210,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $162.29
  • 2 Days on Market
  • MLS # : 6834312
  • Updated Date : 01/30/2021 at 21:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,294 sqft
  • Baths : 1 full
Listing Agent's Description

Location, location, location..... so close to school, shopping, parks. All brick home with new flooring and interior paint. Large eat-in kitchen with room plenty of room for family meals. Two living spaces. The family room as you enter the home from the front door and the den has wood burning stove with exterior entry to the side yard. Fenced in back yard. HVAC replaced in 2020. Septic serviced in 2019. Roof replace in 2015.

SEE MORE

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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 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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$729
Property Tax -$173
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$257

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.

$210,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.63%

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$100k$200k$300k$400k$500k$600k$700k$800k

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

11.25

YEARS SAVED

$35,500

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,346

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,330
1$1,3302$1,3903$1,4754$1,500
$1,500
RENT COMPS ANALYSIS
  • 1955 Carla Drive Cumming, GA 1
    • 3 beds 1 baths ∙ 1,294 Sqft ∙ Built 1975 3 beds 1 baths ∙ 1,294 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.03
    •  
  • 3326 Aaron Sosebee Road Cumming, GA 2
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1966
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.02
    •  
  • 3195 Aintree Chase Cumming, GA 3
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1993
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.95
    •  
  • 1975 Tomahawk Lane Cumming, GA 4
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1990
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.15
    •  
PROPERTY LISTING DETAILS
Suzanne Willis
1.706.525.0912
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6834312
Last Updated: 01/30/2021
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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