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7120 Collingsworth Place Cumming, GA 30041

4 Beds 3 Baths 2,160 sqft Built 1994

$399,900

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $185.14
  • 4 Days on Market
  • MLS # : 6839127
  • Updated Date : 02/12/2021 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,160 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Perfect location 4 BR 2.5 Bath Home Situated on a Level, Private Fenced, Cul de Sac Lot in Lambert School District. Enjoy the Spectacular High End Outdoor Patio! Great Floor Plan, Loaded with Upgrades: Hardwood Floors, Freshly Painted, Rich Trim, High Ceilings, Fixtures, Plantation Shutters, New windows, and Kitchen Opens to Family Room. Upstairs has a Master Retreat w/Updated Bathroom and 3 Add'l Bedrooms. A Rare Find in Sought After Brookwood Plantation Swim/Tennis Neighborhood . Easy Access to Avalon, Halcyon, Hwy 141 & 400.

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

Neighborhood: Brookwood

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $113k560k

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

Neighborhood: Brookwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200Rent in $9733324

* 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
Brookwood Elementary School Primary Regular 988 56 9
South Forsyth Middle School Middle Regular 1,193 66 9
Lambert High School High Regular 2,741 143 10

Brookwood Elementary School

  • Education Level: Primary
  • # of students: 988
  • # of teachers: 56
9
GreatSchools Rating

South Forsyth Middle School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 66
9
GreatSchools Rating

Lambert High School

  • Education Level: High
  • # of students: 2,741
  • # of teachers: 143
10
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,389
Property Tax -$329
Property Insurance -$69
HOA -$46
Property Management Fees -$119
CASH FLOW
$8

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$399,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.18%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.74%
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

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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$20,336

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,955

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9604$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 7120 Collingsworth Place Cumming, GA 3
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.91
    •  
  • 7705 Wickley Drive Cumming, GA 1
    • 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1996
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 7320 Brassfield Drive Cumming, GA 2
    • 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 1997
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.91
    •  
  • 7515 Tadworth Trace Cumming, GA 4
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1995
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 7045 Brassfield Drive Cumming, GA 5
    • 4 beds 3 baths ∙ 2,091 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,091 Sqft ∙ Built 1997
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
PROPERTY LISTING DETAILS
Grove Homes Group
1.770.757.2773
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6839127
Last Updated: 02/12/2021
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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