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2730 Lakeridge Drive Cumming, GA 30041

3 Beds 1 Baths 1,000 sqft Built 1997

$250,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $250.00
  • 4 Days on Market
  • MLS # : 6840727
  • Updated Date : 02/19/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,000 sqft
  • Baths : 1 full
Listing Agent's Description

Don't miss this fully remodeled 3 bedroom, 1 bathroom ranch in Shady Shores subdivision. New HVAC! New Roof! New Insulated Windows! Beautifully landscaped yard, kitchen with lots of cabinet space, and master on main make this a wonderful option for your new home! Conveniently located close to Ga 400 and Lake Lanier. Great schools and a great area! Call to inquire more!

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
Chattahoochee Elementary School Primary Regular 778 49 7
Little Mill Middle School Middle Regular 905 56 7
Forsyth Central High School High Regular 1,941 116 7

Chattahoochee Elementary School

  • Education Level: Primary
  • # of students: 778
  • # of teachers: 49
7
GreatSchools Rating

Little Mill Middle School

  • Education Level: Middle
  • # of students: 905
  • # of teachers: 56
7
GreatSchools Rating

Forsyth Central High School

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

$225,000$275,000$250,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$868
Property Tax -$206
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
-$20

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.

$250,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.49%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$11,557

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,000

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2203$1,250
$1,250
RENT COMPS ANALYSIS
  • 2730 Lakeridge Drive Cumming, GA 2
    • 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1997 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $1.22
    •  
  • 2685 Pilgrim Mill Road Cumming, GA 1
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1987
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.96
    •  
  • 2605 Pilgrim Mill Road Cumming, GA 3
    • 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 1987
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
PROPERTY LISTING DETAILS
Steven Littlefield
1.678.300.9114
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6840727
Last Updated: 02/19/2021
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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