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

3140 Sharon Circle Cumming, GA 30041

3 Beds 2 Baths 2,500 sqft Built 1986

$300,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $120.00
  • 4 Days on Market
  • MLS # : 6839373
  • Updated Date : 02/13/2021 at 13:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,500 sqft
  • Baths : 2 full
Listing Agent's Description

Tree-Lined Escape! This handsome home sits on a Large .7 Acre Lot bordered by James Creek. An inviting Front Porch welcomes you into a Foyer Entryway. Hardwood Floors lead into a Bay Window Breakfast Room. Stainless Steel Appliance shine in the Updated Galley Kitchen with Custom Cabinetry. A Spacious Family Room with Brick Fireplace and adjoining Dining Room offers the perfect place to entertain and unwind. A Main-Level Owner's Suite delivers Newly Renovated Bathroom and Private Balcony Retreat! Two Additional Bedrooms offer Flex Living Options. Downstairs, a Finished

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (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)
  • #1 Most affordable big city (WalletHub, 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)

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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,042
Property Tax -$247
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$317

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.

$300,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.60%

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

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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$46,072

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,131

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9504$2,1005$2,400
$2,400
RENT COMPS ANALYSIS
  • 3140 Sharon Circle Cumming, GA 1
    • 3 beds 2 baths ∙ 2,500 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,500 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
  • 4110 Chestnut Springs Court Cumming, GA 2
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1995
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 1790 Vinery Avenue Cumming, GA 3
    • 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 2002
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
  • 3280 Warbler Way Cumming, GA 4
    • 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 2006
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 1560 Broadhempston Court Cumming, GA 5
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2002
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.94
    •  
PROPERTY LISTING DETAILS
The Justin Landis Group
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6839373
Last Updated: 02/13/2021
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