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5875 Millstone Drive Cumming, GA 30028

4 Beds 2 Baths 2,000 sqft Built 1999

$257,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $128.50
  • 2 Days on Market
  • MLS # : 6808408
  • Updated Date : 11/14/2020 at 10:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,000 sqft
  • Baths : 2 full
Listing Agent's Description

Awesome Turnkey Ranch Home on Acreage! Beautiful, well kept home in a quiet cul de sac! Be the first to see it or you might not get to see it at all! Master on the main floor has a giant walk-in shower and large separate sitting area. Open concept kitchen with solid surface counters flows straight into the living room. Grill out and hang out on your patio in your giant park-like back yard. Bonus bedroom above the garage is perfect place for your loudest child to have their own domain or make it an office or playroom.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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)

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
 

$231,300$282,700$257,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$948
Property Tax -$212
Property Insurance -$66
HOA -$15
Property Management Fees -$119
CASH FLOW
$291

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.

$257,000

PROJECTED PRICE

$1,650

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

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,855

INVESTMENT

$73,855

Down Payment
$64,250
Rehab Estimate
$5,750
Closing Costs
$3,855

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,250
Loan Amount $192,750
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$48,016

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,633

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,7004$2,005
$2,005
RENT COMPS ANALYSIS
  • 5875 Millstone Drive Cumming, GA 2
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 4505 Chaney Court Cumming, GA 1
    • 4 beds 3 baths ∙ 1,986 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,986 Sqft ∙ Built 2017
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.81
    •  
  • 5445 Fieldfreen Drive Cumming, GA 3
    • 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2006
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.78
    •  
  • 4950 Bucknell Trace Cumming, GA 4
    • 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 2014
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,005
    • $0.86
    •  
PROPERTY LISTING DETAILS
Richard Clarke
1.478.494.1648
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808408
Last Updated: 11/14/2020
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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