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5425 Concord Downs Drive Cumming, GA 30040

5 Beds 3 Baths 2,836 sqft Built 2009

$352,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2009
  • Price/Sqft : $124.12
  • 4 Days on Market
  • MLS # : 6804284
  • Updated Date : 11/05/2020 at 23:48
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,836 sqft
  • Baths : 3 full
Listing Agent's Description

Beautiful 5 Bedroom 3 BA home offering open concept for ideal entertaining & enjoyment. Two Story Foyer & Living Room that shares a stunning double sided fireplace open to Sun-room & hardwoods. Bedroom on Main level w/ full Bath. Master Suite features large bathroom w/ double vanity & gigantic walk in closet. Swim/Tennis Community near Vickery Village, Retail Shopping at The Collection, Halcyon & GA 400.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 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
Sawnee Elementary School Primary Regular 1,233 81 7
Liberty Middle School Middle Regular 984 58 8
West Forsyth High School High Regular 2,362 126 8

Sawnee Elementary School

  • Education Level: Primary
  • # of students: 1,233
  • # of teachers: 81
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
 

$316,800$387,200$352,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,299
Property Tax -$290
Property Insurance -$82
HOA -$60
Property Management Fees -$119
CASH FLOW
$221

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.

$352,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.59%

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$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$99,030

INVESTMENT

$99,030

Down Payment
$88,000
Rehab Estimate
$5,750
Closing Costs
$5,280

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,299

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,000
Loan Amount $264,000
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$43,410

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,318

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,070
1$2,0702$2,1003$2,1004$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 5425 Concord Downs Drive Cumming, GA 1
    • 5 beds 3 baths ∙ 2,836 Sqft ∙ Built 2009 5 beds 3 baths ∙ 2,836 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.73
    •  
  • 5140 Prancing Pass Cumming, GA 2
    • 5 beds 4 baths ∙ 2,602 Sqft ∙ Built 2009 5 beds 4 baths ∙ 2,602 Sqft ∙ Built 2009
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 4375 Colchester Creek Drive Cumming, GA 3
    • 4 beds 3 baths ∙ 2,861 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,861 Sqft ∙ Built 2009
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.73
    •  
  • 4325 Madison Drive Cumming, GA 4
    • 4 beds 4 baths ∙ 2,600 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,600 Sqft ∙ Built 2019
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
  • 5375 Concord Downs Drive Cumming, GA 5
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2009
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Tana Brewster
1.770.378.0394
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6804284
Last Updated: 11/05/2020
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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