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6705 Country Lake Road Cumming, GA 30041

4 Beds 4 Baths 2,854 sqft Built 2018

$362,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $127.15
  • 2 Days on Market
  • MLS # : 6860520
  • Updated Date : 03/27/2021 at 20:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,854 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Most private lot in Whispering Lake! Located at the end of the cul-de-sac this beautiful move-in ready home features a 2 story foyer and endless upgrades. As you enter French doors welcome you to your office/study. Main level also features hardwoods throughout, coffered ceiling separate dining room, chef inspired kitchen with granite countertops, SS appliances and a huge island open to expansive family room with gas log fireplace. Laundry room, walk in pantry and oversized 2 car garage add to this home's tremendous value.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30041

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k391k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 30041

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732079

* 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
 

$326,610$399,190$362,900

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,260
Property Tax -$458
Property Insurance -$82
HOA -$66
Property Management Fees -$119
CASH FLOW
$415

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.

$362,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.4%
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$1.4M

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,919

INVESTMENT

$101,919

Down Payment
$90,725
Rehab Estimate
$5,750
Closing Costs
$5,444

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,260

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,725
Loan Amount $272,175
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$55,187

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,133

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,3003$2,3004$2,4005$2,495
$2,495
RENT COMPS ANALYSIS
  • 6705 Country Lake Road Cumming, GA 4
    • 4 beds 4 baths ∙ 2,854 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,854 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.84
    •  
  • 6240 Pine Bluff Drive Cumming, GA 1
    • 5 beds 3 baths ∙ 3,012 Sqft ∙ Built 2015 5 beds 3 baths ∙ 3,012 Sqft ∙ Built 2015
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.71
    •  
  • 5750 Palmtree Pass Cumming, GA 2
    • 5 beds 4 baths ∙ 3,062 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,062 Sqft ∙ Built 2015
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.75
    •  
  • 5570 Vickery Circle Cumming, GA 3
    • 4 beds 3 baths ∙ 3,152 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,152 Sqft ∙ Built 2006
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.73
    •  
  • 7245 Rocking Horse Lane Cumming, GA 5
    • 5 beds 4 baths ∙ 3,137 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,137 Sqft ∙ Built 2013
    LEASED 02/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.80
    •  
PROPERTY LISTING DETAILS
Shari Gorman
1.305.747.0250
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6860520
Last Updated: 03/27/2021
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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