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2540 Village Park Drive Cumming, GA 30041

4 Beds 3 Baths 2,600 sqft Built 2021

$464,900

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $178.81
  • 7 Days on Market
  • MLS # : 6840642
  • Updated Date : 02/18/2021 at 11:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,600 sqft
  • Baths : 3 full
Listing Agent's Description

Finally the ranch style home you have been waiting for on a private level lot with fenced backyard minutes to everything and walkable to dining, shops, spas and more. These charming ranch style homes offer the best of main level lifestyle with 3 bedrooms, designer finishes and bonus finished space upstairs plus great storage! Located in a small private community off of 141 in the Award Winning South Forsyth schools! Expertly crafted by Peachland Homes and with time to personalize, The Sonoma floorplan. Lock and Leave lifestyle with lawncare included in the HOA. Ready

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
Shiloh Point Elementary School Primary Regular 1,223 79 8
Piney Grove Middle School Middle Regular 1,309 78 9
Denmark High School High Unknown NA

Shiloh Point Elementary School

  • Education Level: Primary
  • # of students: 1,223
  • # of teachers: 79
8
GreatSchools Rating

Piney Grove Middle School

  • Education Level: Middle
  • # of students: 1,309
  • # of teachers: 78
9
GreatSchools Rating

Denmark High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$418,410$511,390$464,900

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 -$1,615
Property Tax -$383
Property Insurance -$72
HOA -$192
Property Management Fees -$119
CASH FLOW
-$220

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$464,900

PROJECTED PRICE

$2,160

PROJECTED RENT

0.46%

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) 3.00%
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$125,199

INVESTMENT

$125,199

Down Payment
$116,225
Rehab Estimate
$2,000
Closing Costs
$6,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,225
Loan Amount $348,675
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,429

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
  • $0.94

    LIST RENT PER SQFT
  • $2,116

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,1004$2,1605$2,400
$2,400
RENT COMPS ANALYSIS
  • 2540 Village Park Drive Cumming, GA 4
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.94
    •  
  • 2680 Gold Creek Lane Cumming, GA 1
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2013
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.84
    •  
  • 2410 Wentwood Court Cumming, GA 2
    • 3 beds 3 baths ∙ 2,096 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,096 Sqft ∙ Built 2009
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
  • 1315 Oak Meadows Lane Cumming, GA 3
    • 3 beds 3 baths ∙ 2,202 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,202 Sqft ∙ Built 2011
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
  • 1560 Broadhempston Court Cumming, GA 5
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2002
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.94
    •  
PROPERTY LISTING DETAILS
Julie Gentry
1.404.992.1813
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6840642
Last Updated: 02/18/2021
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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