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3375 Carlton Road Cumming, GA 30041

3 Beds 2 Baths 1,296 sqft Built 1985

$259,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $200.54
  • 3 Days on Market
  • MLS # : 6852565
  • Updated Date : 03/13/2021 at 15:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,296 sqft
  • Baths : 2 full
Listing Agent's Description

Great 3 bed 2 bath home in Lake community. Stainless steel appliances, laminate floors & wood burning fireplace in living room. New interior and exterior paint, new interior doors, outlets, light fixtures, thermostat and ceiling fan 2021. New HVAC 2013, new roof, gutters and crawl space insulation 2017. New water heater 2020. Septic pumped March 2017. This is a lovey area in an established lake community. House faces east for great sunrise views. 1.1 mile to Little Ridge Park, free parking & boat ramp. Dogs allowed on trail.

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
Mashburn Elementary School Primary Regular 591 39 8
Lakeside Middle School Middle Regular 1,118 65 8
Forsyth Central High School High Regular 1,941 116 7

Mashburn Elementary School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 39
8
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 65
8
GreatSchools Rating

Forsyth Central High School

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

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

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$903
Property Tax -$214
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$182

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

$1,470

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$29,845

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,335

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4703$1,600
$1,600
RENT COMPS ANALYSIS
  • 3375 Carlton Road Cumming, GA 2
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.13
    •  
  • 3635 Sinclair Shores Road Cumming, GA 1
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1986
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 2905 Hamilton Road Cumming, GA 3
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 2002
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.11
    •  
PROPERTY LISTING DETAILS
Charlene Harrell
1.404.825.8331
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6852565
Last Updated: 03/13/2021
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.

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