Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3095 The Commons Drive Cumming, GA 30041

4 Beds 3 Baths 2,826 sqft Built 2002

$424,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $150.04
  • 3 Days on Market
  • MLS # : 6836826
  • Updated Date : 02/06/2021 at 12:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,826 sqft
  • Baths : 3 full
Listing Agent's Description

Beautiful and low maintenance! Come live close to everything in this quaint little neighborhood....shopping,restaurants, parks, schools. This lovely home has 4 bedrooms & 3 full baths w/ Master on Main, spacious kitchenw/ granite island, all appliances including washer & dryer, too. Upstairs bedroom/bonus room is oversized w/fullbath, large walk-in closet, & kitchenette. Beautiful screened porch to enjoy all seasons in a private fencedbackyard. Roof is 2 yo. HVAC is 1yo. HOA includes all yard maintenance, trash, and pool.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
Sharon Elementary School Primary Regular 1,075 55 8
South Forsyth Middle School Middle Regular 1,193 66 9
South Forsyth High School High Regular 2,693 151 9

Sharon Elementary School

  • Education Level: Primary
  • # of students: 1,075
  • # of teachers: 55
8
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
 

$381,600$466,400$424,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,473
Property Tax -$349
Property Insurance -$82
HOA -$155
Property Management Fees -$119
CASH FLOW
-$37

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.

$424,000

PROJECTED PRICE

$2,140

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,110

INVESTMENT

$118,110

Down Payment
$106,000
Rehab Estimate
$5,750
Closing Costs
$6,360

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,473

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,000
Loan Amount $318,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$16,729

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,275

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,140
1$2,1402$2,1503$2,2004$2,2505$2,295
$2,295
RENT COMPS ANALYSIS
  • 3095 The Commons Drive Cumming, GA 1
    • 4 beds 3 baths ∙ 2,826 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,826 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.76
    •  
  • 635 Glenish Court Suwanee, GA 2
    • 5 beds 3 baths ∙ 2,798 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,798 Sqft ∙ Built 2015
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
  • 3330 Chartwell Place Suwanee, GA 3
    • 5 beds 4 baths ∙ 2,772 Sqft ∙ Built 1996 5 beds 4 baths ∙ 2,772 Sqft ∙ Built 1996
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
  • 1710 Aurelia Drive Cumming, GA 4
    • 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 2001
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.82
    •  
  • 1570 Aurelia Drive Cumming, GA 5
    • 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 2001
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jennifer Henriott
1.770.710.2667
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6836826
Last Updated: 02/06/2021
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.

BESbswy