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

1955 Piedmont Cove Lane Cumming, GA 30040

5 Beds 4 Baths 3,275 sqft Built 2010

$379,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $115.73
  • 2 Days on Market
  • MLS # : 6856133
  • Updated Date : 03/27/2021 at 19:59
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,275 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Search no further! This beautiful home is move-in ready with updates galore! You will approach the home which sits in a cul-de-sac in the back of the neighborhood providing a private, quiet location. The well manicured lawn leads you to the covered rocking-chair front porch - perfect for your morning coffee.Oversized master, 4 additional spacious bedrooms, fully finished basement with full bathroom - perfect for entertaining or mother-in-law suite! Private fenced in backyard, 2 car garage, spacious deck and covered patio with storage shed.

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
 

$341,100$416,900$379,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,316
Property Tax -$312
Property Insurance -$71
HOA -$50
Property Management Fees -$119
CASH FLOW
$52

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.

$379,000

PROJECTED PRICE

$1,920

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

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$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,316

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$22,787

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,853

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,8854$1,8905$1,920
$1,920
RENT COMPS ANALYSIS
  • 1955 Piedmont Cove Lane Cumming, GA 5
    • 5 beds 4 baths ∙ 2,260 Sqft ∙ Built 2010 5 beds 4 baths ∙ 2,260 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.85
    •  
  • 4510 Roseman Trail Cumming, GA 1
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2012
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.82
    •  
  • 4285 Arch Pass Cumming, GA 2
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2012
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
  • 2980 Whittier Way Cumming, GA 3
    • 4 beds 4 baths ∙ 2,290 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,290 Sqft ∙ Built 2006
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.82
    •  
  • 4260 Arch Pass Cumming, GA 4
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2012
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.81
    •  
PROPERTY LISTING DETAILS
Ricci Taylor
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6856133
Last Updated: 03/27/2021
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