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5855 Shannon Drive Cumming, GA 30040

3 Beds 2 Baths 1,581 sqft Built 1996

$265,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $167.62
  • 3 Days on Market
  • MLS # : 6839770
  • Updated Date : 02/13/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,581 sqft
  • Baths : 2 full
Listing Agent's Description

Beautiful home in highly sought after, mature neighborhood. This hardieplank-sided ranch has 3 spacious bedrooms and an oversized master bath with a large soaking tub and separate shower. Living room includes tall vaulted ceilings and a gas fireplace perfect to cozy up next to. The kitchen opens up into the grand, inviting sun room. Large double deck was the perfect addition to enjoy the private backyard. New Publix shopping center with restaurants & other shops are just a mile away!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)
  • 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)

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
Matt Elementary School Primary Regular 992 63 7
Liberty Middle School Middle Regular 984 58 8
North Forsyth High School High Regular 2,400 138 8

Matt Elementary School

  • Education Level: Primary
  • # of students: 992
  • # of teachers: 63
7
GreatSchools Rating

Liberty Middle School

  • Education Level: Middle
  • # of students: 984
  • # of teachers: 58
8
GreatSchools Rating

North Forsyth High School

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

$238,500$291,500$265,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$920
Property Tax -$218
Property Insurance -$58
HOA -$29
Property Management Fees -$119
CASH FLOW
$245

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.

$265,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.60%

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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$36,280

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,605

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,8003$1,900
$1,900
RENT COMPS ANALYSIS
  • 5855 Shannon Drive Cumming, GA 1
    • 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.01
    •  
  • 7225 Walnut Mill Landing Cumming, GA 2
    • 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1997
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 3925 Spring Ridge Drive Cumming, GA 3
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2012
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
PROPERTY LISTING DETAILS
Kelly Rasmovich
1.770.235.7266
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6839770
Last Updated: 02/13/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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