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3920 Almandine Way Cumming, GA 30040

4 Beds 3 Baths 2,345 sqft Built 2006

$340,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $144.99
  • 6 Days on Market
  • MLS # : 6850955
  • Updated Date : 03/10/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,345 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Priced well below market! Wonderful 4-bedroom home in the highly desirable Fieldstone Glen overlooking the neighborhood pond! This home is in need of updates and some TLC... Perfect opportunity to make it your own! The interior features a cozy floor plan with a large living area, separate dining & living rooms, and spacious eat-in kitchen. Large master suite with trey-ceilings and a great walk-in closet. Master bath features double vanity, large tub, and separate walk-in shower. Fenced-in backyard overlooking the the water.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,181
Property Tax -$327
Property Insurance -$72
HOA -$69
Property Management Fees -$119
CASH FLOW
$162

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.

$340,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.57%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$29,447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,940

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,9004$1,9305$2,200
$2,200
RENT COMPS ANALYSIS
  • 3920 Almandine Way Cumming, GA 4
    • 4 beds 3 baths ∙ 2,345 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,345 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.82
    •  
  • 4450 Azurite Street Cumming, GA 1
    • 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 2007
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 3995 Emerald Glade Court Cumming, GA 2
    • 3 beds 3 baths ∙ 2,246 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,246 Sqft ∙ Built 2006
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 5045 Bayberry Court Cumming, GA 3
    • 5 beds 3 baths ∙ 2,360 Sqft ∙ Built 1992 5 beds 3 baths ∙ 2,360 Sqft ∙ Built 1992
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 3880 Rodalite Drive Cumming, GA 5
    • 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2006
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Minesh Patel
1.404.729.2345
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6850955
Last Updated: 03/10/2021
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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