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3845 Pilgrim Mill Road Cumming, GA 30041

3 Beds 3 Baths 1,858 sqft Built 1998

$279,700

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $150.54
  • 3 Days on Market
  • MLS # : 6808163
  • Updated Date : 11/14/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,858 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Master on Main. Very well maintained Cape Cod with privacy sitting back on a wooded lot. Beautiful wrap around front porch, hardwood floors, built-in bookcase, and a fireplace. Partially finished basement with drive under garage floors protected by rubber tiles, and a large workshop area. Easy access to Tidwell Park boat ramp. Quick route to GA 400 N exit 16. Move in ready!!

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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)
  • 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
Chattahoochee Elementary School Primary Regular 778 49 7
Little Mill Middle School Middle Regular 905 56 7
Forsyth Central High School High Regular 1,941 116 7

Chattahoochee Elementary School

  • Education Level: Primary
  • # of students: 778
  • # of teachers: 49
7
GreatSchools Rating

Little Mill Middle School

  • Education Level: Middle
  • # of students: 905
  • # of teachers: 56
7
GreatSchools Rating

Forsyth Central High School

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

$251,730$307,670$279,700

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,032
Property Tax -$247
Property Insurance -$63
HOA -$29
Property Management Fees -$119
CASH FLOW
$130

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.

$279,700

PROJECTED PRICE

$1,620

PROJECTED RENT

0.58%

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,871

INVESTMENT

$79,871

Down Payment
$69,925
Rehab Estimate
$5,750
Closing Costs
$4,196

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,032

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,925
Loan Amount $209,775
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$29,612

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,647

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,6204$1,695
$1,695
RENT COMPS ANALYSIS
  • 3845 Pilgrim Mill Road Cumming, GA 3
    • 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.87
    •  
  • 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
    •  
  • 4604 Young Deer Drive Cumming, GA 2
    • 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 2001
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
  • 3450 Monterey Street Cumming, GA 4
    • 4 beds 3 baths ∙ 2,097 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,097 Sqft ∙ Built 2005
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
PROPERTY LISTING DETAILS
Doug Jacobs
1.678.250.3877
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808163
Last Updated: 11/14/2020
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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