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3840 Sweetwater Drive Cumming, GA 30041

6 Beds 4 Baths 3,000 sqft Built 1996

$424,900

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $141.63
  • 4 Days on Market
  • MLS # : 6803011
  • Updated Date : 11/01/2020 at 19:36
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,000 sqft
  • Baths : 4 full
Listing Agent's Description

Expansive home in South Forsyth location. Closest community to Lake Lanier. Private over 1 acre lot backs up to Haw Creek with running stream. 6 full bedrooms, featuring a bedroom on the main floor with full bath, Master with sitting room and private porch, Expanded Spa bathroom with two walk-in closets. The two story family rooms features views like no other. The basement highlights a bedroom, full bath, family room, game area and still even more room for future finishing. The expansive multiple decks overlook Haw Creek. Great place for entertaining and relaxing.

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
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
 

$382,410$467,390$424,900

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,568
Property Tax -$353
Property Insurance -$85
HOA -$167
Property Management Fees -$119
CASH FLOW
-$101

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.

$424,900

PROJECTED PRICE

$2,190

PROJECTED RENT

0.52%

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$118,349

INVESTMENT

$118,349

Down Payment
$106,225
Rehab Estimate
$5,750
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$15,868

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,965

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,190
$2,190
RENT COMPS ANALYSIS
  • 3840 Sweetwater Drive Cumming, GA 3
    • 6 beds 4 baths ∙ 3,000 Sqft ∙ Built 1996 6 beds 4 baths ∙ 3,000 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.73
    •  
  • 591 Fulper Court Sugar Hill, GA 1
    • 5 beds 3 baths ∙ 3,007 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,007 Sqft ∙ Built 2006
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.66
    •  
  • 3825 Pointe Vecchio Circle Cumming, GA 2
    • 5 beds 4 baths ∙ 3,068 Sqft ∙ Built 2012 5 beds 4 baths ∙ 3,068 Sqft ∙ Built 2012
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.65
    •  
PROPERTY LISTING DETAILS
Grove Homes Group
1.770.757.2773
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803011
Last Updated: 11/01/2020
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.

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