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4875 Meadow Ovlk Cumming, GA 30040

4 Beds 3 Baths 2,515 sqft Built 2001

$309,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $123.22
  • 3 Days on Market
  • MLS # : 6831803
  • Updated Date : 01/23/2021 at 22:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,515 sqft
  • Baths : 3 full
Listing Agent's Description

Beautiful, well maintained home on quiet street - close to schools, dining & shopping - offers a spacious, open floorplan. Looking for a home to make your own? This lovely property is CLEAN and MOVE-IN READY with UPDATED FLOORING .Split Level floor plan offers a main level family room w/fireplace and vaulted ceiling, dining area, kitchen w/ breakfast area, owner's suite + 2 more bedrooms and another full bath.

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: 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
Whitlow Elementary School Primary Regular 1,140 79 7
Otwell Middle School Middle Regular 1,159 73 7
Forsyth Central High School High Regular 1,941 116 7

Whitlow Elementary School

  • Education Level: Primary
  • # of students: 1,140
  • # of teachers: 79
7
GreatSchools Rating

Otwell Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 73
7
GreatSchools Rating

Forsyth Central High School

  • Education Level: High
  • # of students: 1,941
  • # of teachers: 116
7
GreatSchools Rating
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,076
Property Tax -$255
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
$274

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.

$309,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.58%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,076

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$41,651

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,867

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8504$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 4875 Meadow Ovlk Cumming, GA 2
    • 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
  • 5690 Crestwick Way Cumming, GA 1
    • 3 beds 3 baths ∙ 2,368 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,368 Sqft ∙ Built 2007
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 5960 Crestwick Way Cumming, GA 3
    • 4 beds 4 baths ∙ 2,670 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,670 Sqft ∙ Built 2008
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.69
    •  
  • 5405 Dominion Court Cumming, GA 4
    • 4 beds 4 baths ∙ 2,610 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,610 Sqft ∙ Built 2009
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.76
    •  
  • 5430 Delmonte Drive Cumming, GA 5
    • 4 beds 4 baths ∙ 2,621 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,621 Sqft ∙ Built 2009
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.76
    •  
PROPERTY LISTING DETAILS
Miguel Fulleda
1.678.754.4089
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831803
Last Updated: 01/23/2021
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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