Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6255 Lillie Lane Cumming, GA 30040

3 Beds 3 Baths 2,041 sqft Built 1996

$264,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $129.79
  • 7 Days on Market
  • MLS # : 6820993
  • Updated Date : 12/22/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,041 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

WELCOME HOME! You'll love this charming 3 bed/2.5 bath home that sits on just about half an acre and is only minutes from Lake Lanier, The Outlets, and Sawnee Mtn. This home features large bedrooms, each with vaulted or trey ceilings, and plenty of space to move about, without losing that cozy atmosphere. Wonderful family room w/ FP. The special touches the owner has added can be found throughout, from the shadow-box mouldings in the formal dining room to the custom-made benches for the b'fast nook. The sprawling fenced backed yard / patio is perfect for entertaining!

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
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
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$977
Property Tax -$218
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$369

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.

$264,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.66%

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$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$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

11.92

YEARS SAVED

$57,571

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,786

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,825
$1,825
RENT COMPS ANALYSIS
  • 6255 Lillie Lane Cumming, GA 2
    • 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
  • 6230 Weldon Drive Cumming, GA 1
    • 3 beds 3 baths ∙ 2,152 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,152 Sqft ∙ Built 1995
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
  • 7425 Morning Dew Drive Cumming, GA 3
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 1998
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.94
    •  
PROPERTY LISTING DETAILS
Teresa Johnson
1.404.861.2788
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820993
Last Updated: 12/22/2020
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.

BESbswy