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2840 Englewood Drive Cumming, GA 30040

3 Beds 3 Baths 1,752 sqft Built 2007

$255,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $145.55
  • 3 Days on Market
  • MLS # : 6842569
  • Updated Date : 02/20/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,752 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This traditional 3 bedroom, 2.5 bath home is located in a highly desirable neighborhood that is convenient to 400, shopping, and entertainment! Wonderful floor plan includes an open concept on main floor with all bedrooms and laundry upstairs. Spacious bedrooms, 2 car garage, and a great backyard!

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: 30040

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k328k

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

Zip Code: 30040

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Cumming Elementary School Primary Regular 938 78 4
Otwell Middle School Middle Regular 1,159 73 7
Forsyth Central High School High Regular 1,941 116 7

Cumming Elementary School

  • Education Level: Primary
  • # of students: 938
  • # of teachers: 78
4
GreatSchools Rating

Otwell Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 73
7
GreatSchools Rating

Forsyth Central High School

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

$229,500$280,500$255,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$886
Property Tax -$210
Property Insurance -$61
HOA -$58
Property Management Fees -$119
CASH FLOW
$326

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.

$255,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.3%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$43,761

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,656

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6253$1,6504$1,6605$1,740
$1,740
RENT COMPS ANALYSIS
  • 2840 Englewood Drive Cumming, GA 4
    • 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.95
    •  
  • 2830 Mayfair Drive Cumming, GA 1
    • 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 2005
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
  • 2865 Mayfair Drive Cumming, GA 2
    • 3 beds 3 baths ∙ 1,732 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,732 Sqft ∙ Built 2006
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.94
    •  
  • 2290 Mayfair Drive Cumming, GA 3
    • 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 2007
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 2610 Richfield Place Cumming, GA 5
    • 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 2005
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.99
    •  
PROPERTY LISTING DETAILS
Noelle Larson
1.770.940.2165
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6842569
Last Updated: 02/20/2021
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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