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4381 Sumac Drive Austell, GA 30106

2 Beds 2 Baths 1,435 sqft Built 1965

$160,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $111.50
  • 4 Days on Market
  • MLS # : 6810811
  • Updated Date : 11/20/2020 at 10:19
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,435 sqft
  • Baths : 2 full
Listing Agent's Description

This is the one that doesn't come around very often. 2 Bdrm / 2 Bath (Converted 3/2). Open floor plan with views from the Kitchen / Din Area / Family Room. Many improvements done in the past 5 years including New Roof, New Kit Cabinets, New Stove & Fridge. New AC. A little interior paint and hardwoods will have this one looking like a real gem! Four sides brick. Full Daylight basement. Fenced level yard that includes an outbuilding. Nice quiet Nbhd. Located 1 mile from the East / West Connector & Powder Springs Rd. Home being sold "As Is"

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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ewing Heights

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Ewing Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Clarkdale Elementary School Primary Regular 688 44 5
Cooper Middle School Middle Regular 899 53 8
South Cobb High School High Regular 2,074 106 4

Clarkdale Elementary School

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 44
5
GreatSchools Rating

Cooper Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 53
8
GreatSchools Rating

South Cobb High School

  • Education Level: High
  • # of students: 2,074
  • # of teachers: 106
4
GreatSchools Rating
 

$144,000$176,000$160,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$590
Property Tax -$145
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$491

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$160,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.88%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,150

INVESTMENT

$48,150

Down Payment
$40,000
Rehab Estimate
$5,750
Closing Costs
$2,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$590

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $40,000
Loan Amount $120,000
See What Happens When You Reinvest Cash Flow

15.92

YEARS SAVED

$49,984

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,464

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,400
$1,400
RENT COMPS ANALYSIS
  • 4381 Sumac Drive Austell, GA 2
    • 2 beds 2 baths ∙ 1,435 Sqft ∙ Built 1965 2 beds 2 baths ∙ 1,435 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.98
    •  
  • 5030 S Cobb School Road Sw Mableton, GA 1
    • 2 beds 1 baths ∙ 1,177 Sqft ∙ Built 1956 2 beds 1 baths ∙ 1,177 Sqft ∙ Built 1956
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.02
    •  
PROPERTY LISTING DETAILS
Scott Tufford
1.770.315.3823
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6810811
Last Updated: 11/20/2020
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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