Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3670 Glennvale Court Cumming, GA 30041

3 Beds 2 Baths 1,979 sqft Built 1997

$349,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $176.81
  • 2 Days on Market
  • MLS # : 6820055
  • Updated Date : 12/26/2020 at 21:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,979 sqft
  • Baths : 2 full
Listing Agent's Description

Excellent School District, Lambert High School. Great location near shopping and restaurants. Great open ranch floorplan with master on one side of home and 2 bedrooms on other side of home. Vaulted Great room with fireplace. Vaulted master bedroom , master bath has separate tub and shower. Covered back porch could easily be converted back to screened porch. Level fenced back yard. Swim/tennis subdivision. Home will need some updating. .Showings start 12/27

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 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
Brookwood Elementary School Primary Regular 988 56 9
South Forsyth Middle School Middle Regular 1,193 66 9
Lambert High School High Regular 2,741 143 10

Brookwood Elementary School

  • Education Level: Primary
  • # of students: 988
  • # of teachers: 56
9
GreatSchools Rating

South Forsyth Middle School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 66
9
GreatSchools Rating

Lambert High School

  • Education Level: High
  • # of students: 2,741
  • # of teachers: 143
10
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,291
Property Tax -$309
Property Insurance -$65
HOA -$100
Property Management Fees -$119
CASH FLOW
-$4

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.

$349,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.54%

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$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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$19,848

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,751

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8804$1,9505$1,995
$1,995
RENT COMPS ANALYSIS
  • 3670 Glennvale Court Cumming, GA 3
    • 3 beds 2 baths ∙ 1,979 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,979 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.95
    •  
  • 3935 Barberry Court Cumming, GA 1
    • 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 1995
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
  • 3065 Brookwater Drive Cumming, GA 2
    • 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 1997
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 7320 Brassfield Drive Cumming, GA 4
    • 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 1997
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.91
    •  
  • 3825 Stepney Way Cumming, GA 5
    • 4 beds 3 baths ∙ 2,124 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,124 Sqft ∙ Built 1996
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.94
    •  
PROPERTY LISTING DETAILS
J W Nay
1.678.362.0500
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820055
Last Updated: 12/26/2020
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. © 2017 First Multiple Listing Service, Inc.

BESbswy