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2355 Ivey Oaks Road Cumming, GA 30041

4 Beds 4 Baths 2,264 sqft Built 1998

$395,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $174.47
  • 3 Days on Market
  • MLS # : 6848168
  • Updated Date : 03/06/2021 at 17:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,264 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Fall in love with this pristine ranch home in the quiet Ivey Falls community in south Forsyth. Located on a flat, level lot with a great front yard and private, covered porch overlooking the wooded back yard. Newer roof & refinished hardwoods on main level. Master on main includes jetted tub and separate shower, dual vanities and large walk-in closet. Kitchen has lots of cabinet and counter space, breakfast bar, pantry closet as well as separate breakfast area. Large family room with gas fireplace and tall vaulted ceiling. Open dining room with beautiful palladium

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: 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
Daves Creek Elementary School Primary Regular 1,221 66 9
South Forsyth Middle School Middle Regular 1,193 66 9
South Forsyth High School High Regular 2,693 151 9

Daves Creek Elementary School

  • Education Level: Primary
  • # of students: 1,221
  • # of teachers: 66
9
GreatSchools Rating

South Forsyth Middle School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 66
9
GreatSchools Rating

South Forsyth High School

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

$355,500$434,500$395,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,372
Property Tax -$325
Property Insurance -$71
HOA -$58
Property Management Fees -$119
CASH FLOW
$25

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.

$395,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.50%

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$21,254

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,049

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,845
1$1,8452$1,8503$1,9704$2,0005$2,425
$2,425
RENT COMPS ANALYSIS
  • 2355 Ivey Oaks Road Cumming, GA 3
    • 4 beds 4 baths ∙ 2,264 Sqft ∙ Built 1998 4 beds 4 baths ∙ 2,264 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.87
    •  
  • 3815 Silver Springs Road Cumming, GA 1
    • 4 beds 3 baths ∙ 2,195 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,195 Sqft ∙ Built 2008
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.84
    •  
  • 4110 Chestnut Springs Court Cumming, GA 2
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1995
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 3725 Silver Springs Road Cumming, GA 4
    • 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2007
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
  • 1075 Ballington Drive Cumming, GA 5
    • 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 2002
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $1.04
    •  
PROPERTY LISTING DETAILS
Chandra Q Baker
1.678.234.3937
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6848168
Last Updated: 03/06/2021
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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