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3190 Bridgeshaw Drive Cumming, GA 30028

3 Beds 2 Baths 1,603 sqft Built 2004

$259,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $162.13
  • 3 Days on Market
  • MLS # : 6799947
  • Updated Date : 11/02/2020 at 00:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,603 sqft
  • Baths : 2 full
Listing Agent's Description

Investors or homeowners!!! Easily accessible 3/2 maintenance free ranch home on large level lot in sought after West Forsyth school district. Home sits in a small single street neighborhood and only has a neighbor on one side. Open concept plan. Large lot with endless possibilities. Professional landscaping. Ranch homes in this district and price range do not last long!

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30028

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k328k

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

Zip Code: 30028

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
Liberty Middle School Middle Regular 984 58 8
West Forsyth High School High Regular 2,362 126 8

Sawnee Elementary School

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

Liberty Middle School

  • Education Level: Middle
  • # of students: 984
  • # of teachers: 58
8
GreatSchools Rating

West Forsyth High School

  • Education Level: High
  • # of students: 2,362
  • # of teachers: 126
8
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$959
Property Tax -$214
Property Insurance -$58
HOA -$28
Property Management Fees -$119
CASH FLOW
$23

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.

$259,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.7%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$18,044

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,419

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,4003$1,4754$1,5855$1,700
$1,700
RENT COMPS ANALYSIS
  • 3190 Bridgeshaw Drive Cumming, GA 2
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 3250 Hurt Bridge Road Cumming, GA 1
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1987
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.68
    •  
  • 3195 Aintree Chase Cumming, GA 3
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1993
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.95
    •  
  • 3610 Daylon Drive Cumming, GA 4
    • 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1986
    property image
    LEASED 07/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.88
    •  
  • 3945 Starr Creek Road Cumming, GA 5
    • 4 beds 3 baths ∙ 1,651 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,651 Sqft ∙ Built 1998
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Russ W Sorrells
1.678.245.2287
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6799947
Last Updated: 11/02/2020
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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