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5780 Falls Landing Drive Cumming, GA 30040

3 Beds 3 Baths 2,232 sqft Built 2006

$320,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $143.37
  • 4 Days on Market
  • MLS # : 6803033
  • Updated Date : 11/01/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,232 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Lots to do in this community with a Playground, Pool, Tennis, Clubhouse and a PRIVATE Neighborhood Entrance to the Big Creek Trailway! Also close to 400, The Collection, Fowler Park, Grocery Stores and Shopping. Well maintained Home in Award winning School District. Open Concept Kitchen with views to the Great Room, Gas Log Fireplace, Breakfast Nook and Fenced-in Backyard with an Extended Deck with only 1 Step. Hardwood Floors throughout the Main Level. Laundry/Mud Room off the Kitchen with a convenient Mud Sink in the Garage. Make the Bonus Loft Area an Office,

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
Vickery Creek Elementary School Primary Regular 1,194 65 7
Vickery Creek Middle School Middle Regular 1,242 66 9
West Forsyth High School High Regular 2,362 126 8

Vickery Creek Elementary School

  • Education Level: Primary
  • # of students: 1,194
  • # of teachers: 65
7
GreatSchools Rating

Vickery Creek Middle School

  • Education Level: Middle
  • # of students: 1,242
  • # of teachers: 66
9
GreatSchools Rating

West Forsyth High School

  • Education Level: High
  • # of students: 2,362
  • # of teachers: 126
8
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,181
Property Tax -$263
Property Insurance -$70
HOA -$44
Property Management Fees -$119
CASH FLOW
$93

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.

$320,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.55%

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

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$28,171

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,819

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7703$1,8254$1,8505$2,000
$2,000
RENT COMPS ANALYSIS
  • 5780 Falls Landing Drive Cumming, GA 2
    • 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.79
    •  
  • 6060 Falls Landing Drive Cumming, GA 1
    • 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 2007
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 5145 Oak Hill Terrace Cumming, GA 3
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2002
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.79
    •  
  • 6020 Falls Landing Drive Cumming, GA 4
    • 4 beds 4 baths ∙ 2,312 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,312 Sqft ∙ Built 2007
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 5620 Beaver Ridge Drive Cumming, GA 5
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2011
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
PROPERTY LISTING DETAILS
Sells Strong Team
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803033
Last Updated: 11/01/2020
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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