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5005 Mundy Court Cumming, GA 30028

4 Beds 4 Baths 2,975 sqft Built 2007

$330,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $110.92
  • 2 Days on Market
  • MLS # : 6825892
  • Updated Date : 01/09/2021 at 21:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,975 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Welcome Home!! Oversized RANCH with a bonus room and bath upstairs. Rare main level rooms connecting with Jack & Jill bathroom. Hardwoods throughout main level as well as an eat in kitchen. Flat yard with extended patio along with a ring door bell. Spend time in your large living room enjoying your gas log fireplace, the only thing this house is missing is YOU. New Roof!

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 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
Silver City Elementary School Primary Regular 1,095 66 8
North Forsyth Middle School Middle Regular 1,017 58 7
North Forsyth High School High Regular 2,400 138 8

Silver City Elementary School

  • Education Level: Primary
  • # of students: 1,095
  • # of teachers: 66
8
GreatSchools Rating

North Forsyth Middle School

  • Education Level: Middle
  • # of students: 1,017
  • # of teachers: 58
7
GreatSchools Rating

North Forsyth High School

  • Education Level: High
  • # of students: 2,400
  • # of teachers: 138
8
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,146
Property Tax -$272
Property Insurance -$85
HOA -$100
Property Management Fees -$119
CASH FLOW
$198

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.

$330,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.7%
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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$32,484

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,030

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,860
1$1,8602$1,9203$1,9804$2,0955$2,300
$2,300
RENT COMPS ANALYSIS
  • 5005 Mundy Court Cumming, GA 2
    • 4 beds 4 baths ∙ 2,975 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,975 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.65
    •  
  • 4960 Fieldstone View Circle Cumming, GA 1
    • 4 beds 3 baths ∙ 2,781 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,781 Sqft ∙ Built 2004
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.67
    •  
  • 5345 Glenn Ivey Drive Cumming, GA 3
    • 4 beds 3 baths ∙ 2,945 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,945 Sqft ∙ Built 2012
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.67
    •  
  • 4725 Hopewell Manor Drive Cumming, GA 4
    • 5 beds 3 baths ∙ 3,099 Sqft ∙ Built 2008 5 beds 3 baths ∙ 3,099 Sqft ∙ Built 2008
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.68
    •  
  • 5650 Carruth Lake Drive Cumming, GA 5
    • 5 beds 4 baths ∙ 3,236 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,236 Sqft ∙ Built 2018
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.71
    •  
PROPERTY LISTING DETAILS
Donna Reid Bell
1.678.713.9914
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6825892
Last Updated: 01/09/2021
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. © 2017 First Multiple Listing Service, Inc.

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