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3020 Woodfield Way Cumming, GA 30040

4 Beds 3 Baths 2,663 sqft Built 2001

$389,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $146.08
  • 17 Days on Market
  • MLS # : 6820124
  • Updated Date : 12/29/2020 at 07:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,663 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful, light filled, OPEN floor plan with a PRIVATE backyard, on over half an acre. Master on Main with remodeled Master Bathroom and french doors out to a large deck. TWO fireplaces and side entry garage. Great curb appeal, partially finished basement in sought after Sawnee View Farms Subdivision. Large lots, Great schools and just minutes away from the Greenway, GA 400, shopping and restaurants. 4 bedroom, 2.5 bath. Jack & Jill, Full Bath on the top floor. New Paint AND Floors on all 3 levels and new fresh pine straw.

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 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)
  • 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'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)
  • #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
Sawnee Elementary School Primary Regular 1,233 81 7
Otwell Middle School Middle Regular 1,159 73 7
Forsyth Central High School High Regular 1,941 116 7

Sawnee Elementary School

  • Education Level: Primary
  • # of students: 1,233
  • # of teachers: 81
7
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
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,435
Property Tax -$320
Property Insurance -$73
HOA -$57
Property Management Fees -$119
CASH FLOW
-$104

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.

$389,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.3%
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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$15,145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,969

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,9003$1,9504$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 3020 Woodfield Way Cumming, GA 2
    • 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 3706 Downing Drive Cumming, GA 1
    • 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 2004
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 3720 Hazel Avenue Cumming, GA 3
    • 4 beds 4 baths ∙ 2,353 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,353 Sqft ∙ Built 2017
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 3665 Bridges Court Cumming, GA 4
    • 3 beds 3 baths ∙ 2,154 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,154 Sqft ∙ Built 2018
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.91
    •  
  • 2480 Barley Downs Circle Cumming, GA 5
    • 4 beds 4 baths ∙ 2,532 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,532 Sqft ∙ Built 2017
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
PROPERTY LISTING DETAILS
Lynzi Kiser
1.404.384.2818
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820124
Last Updated: 12/29/2020
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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