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4275 Ridgebrook Bend Cumming, GA 30028

4 Beds 3 Baths 2,153 sqft Built 1997

$295,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $137.02
  • 5 Days on Market
  • MLS # : 6832988
  • Updated Date : 01/29/2021 at 12:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,153 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Come tour this AMAZING home! Perfect location. 10 minutes from downtown Cumming. Beautiful rural living. 4 bed 2.5 bath, 2 story. Spacious Master. Open floor plan. Stubbed basement, ready to finish. MASSIVE fenced in backyard with a brand new deck. Fresh paint. New HVAC system. A must see! Will go quickly!

SEE MORE

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (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)
  • #1 Most affordable big city (WalletHub, 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Zip Code: 30028

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k328k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 30028

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
Matt Elementary School Primary Regular 992 63 7
Liberty Middle School Middle Regular 984 58 8
West Forsyth High School High Regular 2,362 126 8

Matt Elementary School

  • Education Level: Primary
  • # of students: 992
  • # of teachers: 63
7
GreatSchools Rating

Liberty Middle School

  • Education Level: Middle
  • # of students: 984
  • # of teachers: 58
8
GreatSchools Rating

West Forsyth High School

  • Education Level: High
  • # of students: 2,362
  • # of teachers: 126
8
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,025
Property Tax -$243
Property Insurance -$69
HOA -$20
Property Management Fees -$119
CASH FLOW
$375

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.

$295,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.7%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$51,414

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,018

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,699
1$1,6992$1,7403$1,8504$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 4275 Ridgebrook Bend Cumming, GA 3
    • 4 beds 3 baths ∙ 2,153 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,153 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 7955 Streamside Lane Cumming, GA 1
    • 4 beds 3 baths ∙ 1,916 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,916 Sqft ∙ Built 1999
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.89
    •  
  • 3930 Mallard Way Cumming, GA 2
    • 4 beds 3 baths ∙ 1,867 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,867 Sqft ∙ Built 1995
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.93
    •  
  • 2310 Nottingham Way Cumming, GA 4
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1997
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
  • 3925 Spring Ridge Drive Cumming, GA 5
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2012
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.05
    •  
PROPERTY LISTING DETAILS
Ursula And Associates
1.770.241.0373
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6832988
Last Updated: 01/29/2021
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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