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4045 Montgrove Glen Cumming, GA 30041

4 Beds 3 Baths 2,559 sqft Built 1997

$390,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1997
  • Price/Sqft : $152.40
  • 9 Days on Market
  • MLS # : 6801041
  • Updated Date : 11/01/2020 at 18:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,559 sqft
  • Baths : 3 full
Listing Agent's Description

A rare chance for a fantastic updated home in the swim/tennis community of Montvale. TOP SCHOOLS ! Kitchen has new white cabinets, granite counters, and stainless appliances. Wood floors on the main level, screened in porch, new white gorgeous master bathroom, one large bedroom with a full bath on the main level, and a large fully fenced private back yard. HURRY this will not last at this great price.

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
 

$351,000$429,000$390,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,439
Property Tax -$321
Property Insurance -$77
HOA -$50
Property Management Fees -$119
CASH FLOW
$324

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.

$390,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.60%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$58,521

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,322

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3003$2,3304$2,3505$2,495
$2,495
RENT COMPS ANALYSIS
  • 4045 Montgrove Glen Cumming, GA 3
    • 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.91
    •  
  • 455 Eastbourne Alpharetta, GA 1
    • 3 beds 3 baths ∙ 2,431 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,431 Sqft ∙ Built 1993
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 5420 Hastings Terrace Alpharetta, GA 2
    • 5 beds 3 baths ∙ 2,608 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,608 Sqft ∙ Built 2006
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.88
    •  
  • 3565 Evonvale Overlook Cumming, GA 4
    • 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 1995
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.97
    •  
  • 5630 Vicarage Walk Alpharetta, GA 5
    • 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 1992
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.92
    •  
PROPERTY LISTING DETAILS
Caroline Gamma
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6801041
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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