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3315 The Commons Drive Cumming, GA 30041

4 Beds 3 Baths 2,517 sqft Built 2003

$409,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $162.50
  • 3 Days on Market
  • MLS # : 6849628
  • Updated Date : 03/06/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,517 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Master on the Main with an open floor plan includes a two story great room with wall of windows and it is open to the kitchen & breakfast area; gorgeous sunroom overlooks the beautiful, private patio & backyard; hardwoods in the kitchen, keeping/breakfast room, & dining room; large master suite on the main with a sitting room & private entrance to the patio; three more large secondary bedrooms & bathroom upstairs in addition to a loft area overlooking the great room; newer roof; backyard backs to a wooded common area for privacy; HOA covers all yard maintenance,

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: 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
 

$368,100$449,900$409,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,421
Property Tax -$337
Property Insurance -$76
HOA -$155
Property Management Fees -$119
CASH FLOW
-$107

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.

$409,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.4%
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$114,135

INVESTMENT

$114,135

Down Payment
$102,250
Rehab Estimate
$5,750
Closing Costs
$6,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,421

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,250
Loan Amount $306,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$11,507

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,020

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,920
1$1,9202$1,9953$2,0004$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 3315 The Commons Drive Cumming, GA 3
    • 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.79
    •  
  • 3380 Ashton Drive Suwanee, GA 1
    • 5 beds 3 baths ∙ 2,566 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,566 Sqft ∙ Built 1994
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.75
    •  
  • 2680 Gold Creek Lane Cumming, GA 2
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2013
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.84
    •  
  • 3280 Warbler Way Cumming, GA 4
    • 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 2006
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 3330 Chartwell Place Suwanee, GA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Daryl Sims
1.404.545.7753
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6849628
Last Updated: 03/06/2021
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.

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