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3550 Silver Vista Court Cumming, GA 30041

4 Beds 3 Baths 2,179 sqft Built 1998

$399,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $183.52
  • 5 Days on Market
  • MLS # : 6838745
  • Updated Date : 02/11/2021 at 12:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,179 sqft
  • Baths : 3 full
Listing Agent's Description

Stunning Home in Chattahoochee River Club in a cul de sac that is NEW NEW NEW! Brand New carpet, paint, fixtures, granite, and so much more. As soon as you step into this lovely home you are greeted by the two story ceilings, fresh paint, hardwoods and a view into the dining area, family room and eat in breakfast area. This open concept floor plan allows for tons of natural light, space and room for the entire family. Two-story fireside family room includes a stone gas fireplace, two massive windows on either side and is looked over by the kitchen.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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)

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
Haw Creek Elementary School Primary Regular 949 54 8
Lakeside Middle School Middle Regular 1,118 65 8
South Forsyth High School High Regular 2,693 151 9

Haw Creek Elementary School

  • Education Level: Primary
  • # of students: 949
  • # of teachers: 54
8
GreatSchools Rating

Lakeside Middle School

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

South Forsyth High School

  • Education Level: High
  • # of students: 2,693
  • # of teachers: 151
9
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,389
Property Tax -$329
Property Insurance -$69
HOA -$92
Property Management Fees -$119
CASH FLOW
-$148

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.

$399,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.46%

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$9,291

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,852

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,8904$1,9005$2,100
$2,100
RENT COMPS ANALYSIS
  • 3550 Silver Vista Court Cumming, GA 2
    • 4 beds 3 baths ∙ 2,179 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,179 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 2160 Vistoria Drive Cumming, GA 1
    • 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 2005
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 2825 Stratfield Court Cumming, GA 3
    • 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 1990
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.92
    •  
  • 2175 Vistoria Drive Cumming, GA 4
    • 5 beds 3 baths ∙ 2,310 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,310 Sqft ∙ Built 2005
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
  • 5703 Kendrick Lane Cumming, GA 5
    • 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 2000
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
PROPERTY LISTING DETAILS
Cleve M Gaddis
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6838745
Last Updated: 02/11/2021
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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