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3525 Elder Field Lane Cumming, GA 30040

4 Beds 3 Baths 2,043 sqft Built 2005

$350,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $171.32
  • 3 Days on Market
  • MLS # : 6844331
  • Updated Date : 02/26/2021 at 12:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,043 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome home to one of Forsyth County's most popular neighborhoods, Fieldstone Park. This amenity rich community features multiple pools with a waterslide, swim team, a very active tennis program with 12 courts, sand volleyball, basketball, playground, a large clubhouse with gym, and lots of greenspace with ponds. Located just steps from the main amenity area, you will find 3525 Elder Field Lane. This is an absolutely perfect, move-in ready home. The home has been recently updated with on-trend colors and quality finishes.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Kelly Mill Elementary Primary Unknown 1,280 70 8
Vickery Creek Middle School Middle Regular 1,242 66 9
West Forsyth High School High Regular 2,362 126 8

Kelly Mill Elementary

  • Education Level: Primary
  • # of students: 1,280
  • # of teachers: 70
8
GreatSchools Rating

Vickery Creek Middle School

  • Education Level: Middle
  • # of students: 1,242
  • # of teachers: 66
9
GreatSchools Rating

West Forsyth High School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,216
Property Tax -$288
Property Insurance -$67
HOA -$82
Property Management Fees -$119
CASH FLOW
-$21

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.

$350,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.50%

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$15,174

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,854

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,7854$1,8505$1,975
$1,975
RENT COMPS ANALYSIS
  • 3525 Elder Field Lane Cumming, GA 2
    • 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
  • 3525 Moor Pointe Drive Cumming, GA 1
    • 4 beds 3 baths ∙ 1,983 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,983 Sqft ∙ Built 2005
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
  • 4610 Canterbury Way Cumming, GA 3
    • 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 1991
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.87
    •  
  • 4350 Cadmium Drive Cumming, GA 4
    • 3 beds 2 baths ∙ 2,052 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,052 Sqft ∙ Built 2011
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 3750 Gadolinite Trail Cumming, GA 5
    • 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 2007
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.98
    •  
PROPERTY LISTING DETAILS
Maxine Young
1.706.525.0644
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6844331
Last Updated: 02/26/2021
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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