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2315 Lakeside Trail Cumming, GA 30041

3 Beds 3 Baths 2,738 sqft Built 1984

$490,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $178.96
  • 9 Days on Market
  • MLS # : 6822926
  • Updated Date : 01/08/2021 at 22:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,738 sqft
  • Baths : 3 full
Listing Agent's Description

Best value on Lake Lanier! Relax in this charmingly updated ranch-style home with Master on the Main. The open dock and 8-seater power boat comes with the property! Enjoy a year-round partial lake view of your quiet fishing cove. This home is in excellent shape and move-in ready.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 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
Mashburn Elementary School Primary Regular 591 39 8
Lakeside Middle School Middle Regular 1,118 65 8
Forsyth Central High School High Regular 1,941 116 7

Mashburn Elementary School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 39
8
GreatSchools Rating

Lakeside Middle School

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

Forsyth Central High School

  • Education Level: High
  • # of students: 1,941
  • # of teachers: 116
7
GreatSchools Rating
 

$441,000$539,000$490,000

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 -$1,702
Property Tax -$403
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$174

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.

$490,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.43%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$12,851

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
  • $0.78

    LIST RENT PER SQFT
  • $2,190

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,965
1$1,9652$2,1303$2,2504$2,395
$2,395
RENT COMPS ANALYSIS
  • 2315 Lakeside Trail Cumming, GA 2
    • 3 beds 3 baths ∙ 2,738 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,738 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.78
    •  
  • 1255 Spring Oak Way Cumming, GA 1
    • 4 beds 3 baths ∙ 2,737 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,737 Sqft ∙ Built 1997
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,965
    • $0.72
    •  
  • 1420 Centerboard Court Cumming, GA 3
    • 4 beds 3 baths ∙ 2,907 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,907 Sqft ∙ Built 1994
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.77
    •  
  • 935 Timber Lake Trail Cumming, GA 4
    • 4 beds 4 baths ∙ 2,634 Sqft ∙ Built 1984 4 beds 4 baths ∙ 2,634 Sqft ∙ Built 1984
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.91
    •  
PROPERTY LISTING DETAILS
Adam Schoonover
1.770.299.9823
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6822926
Last Updated: 01/08/2021
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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