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3370 Chattahoochee Road Cumming, GA 30041

3 Beds 3 Baths 1,510 sqft Built 1989

$265,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $175.50
  • 4 Days on Market
  • MLS # : 6832311
  • Updated Date : 02/06/2021 at 12:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,510 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Don't miss out on this 3 Bed, 2.5 bath home on a private, NEWLY landscaped lot Lake Lanier Subdivision with no HOA. New interior paint. New LVT flooring on the main level. The remodeled kitchen is open to a Breakfast room and the Family room. Bedrooms boast large closets. Stone Fireplace. 2 Car garage. Large NEW deck. All wood rot has been repaired.

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
Chattahoochee Elementary School Primary Regular 778 49 7
Little Mill Middle School Middle Regular 905 56 7
Forsyth Central High School High Regular 1,941 116 7

Chattahoochee Elementary School

  • Education Level: Primary
  • # of students: 778
  • # of teachers: 49
7
GreatSchools Rating

Little Mill Middle School

  • Education Level: Middle
  • # of students: 905
  • # of teachers: 56
7
GreatSchools Rating

Forsyth Central High School

  • Education Level: High
  • # of students: 1,941
  • # of teachers: 116
7
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$920
Property Tax -$218
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$186

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.

$265,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.57%

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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$30,420

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,521

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,4004$1,5005$1,695
$1,695
RENT COMPS ANALYSIS
  • 3370 Chattahoochee Road Cumming, GA 4
    • 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 2685 Pilgrim Mill Road Cumming, GA 1
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1987
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.96
    •  
  • 2605 Pilgrim Mill Road Cumming, GA 2
    • 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 1987
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 2980 Winchester Drive Cumming, GA 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1976
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 2970 Lemans Street Cumming, GA 5
    • 3 beds 3 baths ∙ 1,544 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,544 Sqft ∙ Built 2004
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.10
    •  
PROPERTY LISTING DETAILS
Mahota Real Estate Partners
1.678.852.8322
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6832311
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.

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