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5535 Glenn Ivey Drive Cumming, GA 30028

5 Beds 3 Baths 2,956 sqft Built 2012

$319,900

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $108.22
  • 6 Days on Market
  • MLS # : 6827120
  • Updated Date : 01/13/2021 at 08:20
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,956 sqft
  • Baths : 3 full
Listing Agent's Description

This home has a Neutral color scheme, open floor plan with Newer Carpet. The kitchen features granite countertops with newer Stainless appliances and overlooks a Great Room with cozy fireplace. Master suite has a garden tub, separate shower, double vanity & walk in closet. Just minutes from GA 400, Hwy 53 & Hwy 9. Restaurants & Shopping minutes away. Forsyth County Taxes & Excellent Award Winning Schools. This is a MUST SEE!

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).
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 World’s Busiest Airport(Airports Council International, 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
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,111
Property Tax -$263
Property Insurance -$84
HOA -$38
Property Management Fees -$119
CASH FLOW
$425

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.

$319,900

PROJECTED PRICE

$2,040

PROJECTED RENT

0.64%

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$25k

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$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$57,120

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,017

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,860
1$1,8602$1,9803$2,0404$2,0955$2,300
$2,300
RENT COMPS ANALYSIS
  • 5535 Glenn Ivey Drive Cumming, GA 3
    • 5 beds 3 baths ∙ 2,956 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,956 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.69
    •  
  • 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
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.67
    •  
  • 5345 Glenn Ivey Drive Cumming, GA 2
    • 4 beds 3 baths ∙ 2,945 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,945 Sqft ∙ Built 2012
    property image
    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
    property image
    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
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.71
    •  
PROPERTY LISTING DETAILS
The Kurzner Group
1.000.000.0000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6827120
Last Updated: 01/13/2021
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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