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3325 Ridgefair Drive Cumming, GA 30040

3 Beds 3 Baths 2,074 sqft Built 2003

$305,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $147.06
  • 9 Days on Market
  • MLS # : 6852065
  • Updated Date : 03/12/2021 at 19:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,074 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome home to sought-after Manchester Park in Cumming! This light and bright home is move-in-ready and has been wonderfully cared for, offering a spacious 3-bedroom, 2 1/2 bathroom floor plan with well-appointed features throughout. Open-concept main level is perfect for entertaining family and friends, offering desirable special features, including gas fireplace in living room and a spacious kitchen layout. The light-filled kitchen and breakfast nook

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: 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
Whitlow Elementary School Primary Regular 1,140 79 7
Otwell Middle School Middle Regular 1,159 73 7
Forsyth Central High School High Regular 1,941 116 7

Whitlow Elementary School

  • Education Level: Primary
  • # of students: 1,140
  • # of teachers: 79
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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,059
Property Tax -$251
Property Insurance -$67
HOA -$78
Property Management Fees -$119
CASH FLOW
$185

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.

$305,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$30,601

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,763

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,7253$1,7604$1,7955$1,810
$1,810
RENT COMPS ANALYSIS
  • 3325 Ridgefair Drive Cumming, GA 3
    • 3 beds 3 baths ∙ 2,074 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,074 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.85
    •  
  • 4125 Ridgefair Drive Cumming, GA 1
    • 3 beds 3 baths ∙ 1,990 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,990 Sqft ∙ Built 2001
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.80
    •  
  • 4425 Ridgefair Drive Cumming, GA 2
    • 3 beds 3 baths ∙ 2,030 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,030 Sqft ∙ Built 2002
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.85
    •  
  • 4045 Ridgefair Drive Cumming, GA 4
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2001
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 3435 Ridgefair Drive Cumming, GA 5
    • 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2002
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.85
    •  
PROPERTY LISTING DETAILS
Dany Drouin
1.678.871.6114
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6852065
Last Updated: 03/12/2021
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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