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4605 Olds Street Cumming, GA 30041

3 Beds 2 Baths 1,222 sqft Built 1988

$225,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $184.12
  • 4 Days on Market
  • MLS # : 6830954
  • Updated Date : 01/22/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,222 sqft
  • Baths : 2 full
Listing Agent's Description

Great opportunity to own in Forsyth County! 3 bedroom, 2 bath home on a finished basement. New Floors, New Carpet, Fresh paint and newer HVAC system. Master suite on the main with walk in closet. 2 bedrooms and a bath upstairs. Basement is a great flex space! Fenced private backyard!

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)
  • #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)

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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$782
Property Tax -$185
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$254

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.

$225,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.62%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$36,043

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,295

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,3154$1,3905$1,650
$1,650
RENT COMPS ANALYSIS
  • 4605 Olds Street Cumming, GA 4
    • 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.14
    •  
  • 2685 Pilgrim Mill Road Cumming, GA 1
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1987
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.96
    •  
  • 2605 Pilgrim Mill Road Cumming, GA 2
    • 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 1987
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 3830 Stutz Street Cumming, GA 3
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1994
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,315
    • $1.13
    •  
  • 4710 Pilgrim Point Road Cumming, GA 5
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1990
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
PROPERTY LISTING DETAILS
Marilla Woodall
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6830954
Last Updated: 01/22/2021
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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