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2315 Blackstock Drive Cumming, GA 30041

4 Beds 3 Baths 2,633 sqft Built 2011

$385,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $146.22
  • 4 Days on Market
  • MLS # : 6823089
  • Updated Date : 01/01/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,633 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful home by Archway Custom Homes that has been Impeccable maintained in Sought-after BLACKSTOCK MILL. One of a kind floorplan! Gourmet kitchen open to breakfast rm & family room. Granite, stained cabinets, SS appliances, butlers pantry, mud room w/ custom cubby bench, formal dining, separate living/office/5th bedroom on main. Vaulted Screen porch w/ stamped patio overlooking professionally landscaped backyard. Renovated 1/2 Bath on main. Terrific master suite/bath w/ new frameless shower & laminate floors upstairs.

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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)
  • 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Zip Code: 30041

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k391k

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

Zip Code: 30041

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732079

* 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
Haw Creek Elementary School Primary Regular 949 54 8
Lakeside Middle School Middle Regular 1,118 65 8
South Forsyth High School High Regular 2,693 151 9

Haw Creek Elementary School

  • Education Level: Primary
  • # of students: 949
  • # of teachers: 54
8
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 65
8
GreatSchools Rating

South Forsyth High School

  • Education Level: High
  • # of students: 2,693
  • # of teachers: 151
9
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,420
Property Tax -$317
Property Insurance -$78
HOA -$66
Property Management Fees -$119
CASH FLOW
$160

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.

$385,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.4%
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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$38,778

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,159

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$2,0954$2,1005$2,160
$2,160
RENT COMPS ANALYSIS
  • 2315 Blackstock Drive Cumming, GA 5
    • 4 beds 3 baths ∙ 2,633 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,633 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.82
    •  
  • 2525 Vistoria Drive Cumming, GA 1
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2006
    LEASED 07/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 2160 Vistoria Drive Cumming, GA 2
    • 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 2005
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 6110 Cottingham Way Way Cumming, GA 3
    • 4 beds 4 baths ∙ 2,500 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,500 Sqft ∙ Built 2000
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.84
    •  
  • 5703 Kendrick Lane Cumming, GA 4
    • 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 2000
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
PROPERTY LISTING DETAILS
Pamela Mcintosh
1.770.656.0794
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6823089
Last Updated: 01/01/2021
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. © 2017 First Multiple Listing Service, Inc.

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