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7120 Shady Oak Lane Cumming, GA 30040

3 Beds 3 Baths 1,677 sqft Built 1995

$274,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $163.92
  • 1 Days on Market
  • MLS # : 6806069
  • Updated Date : 11/07/2020 at 22:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,677 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful 2-Story home in the desirable Walnut Grove Subdivision. New Roof, furnaces, AC, toilets and privacy fence. Hardwoods throughout the Main level as well as the Master Bedroom. Sun Room off the kitchen overlooking private, wooded and fenced back yard. Large, Full finished basement and a storage shed outback. Community pool and tennis amenities, centrally located between the new, vibrant North Georgia Outlets, the Cumming Market Place Square shopping district and Sawnee Mountain for fantastic hiking trails. A great home for the next resident or investor...

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
Coal Mountain Elementary School Primary Regular 643 39 7
North Forsyth Middle School Middle Regular 1,017 58 7
North Forsyth High School High Regular 2,400 138 8

Coal Mountain Elementary School

  • Education Level: Primary
  • # of students: 643
  • # of teachers: 39
7
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
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,014
Property Tax -$226
Property Insurance -$60
HOA -$27
Property Management Fees -$119
CASH FLOW
$64

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.

$274,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$22,894

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,316

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,5103$1,825
$1,825
RENT COMPS ANALYSIS
  • 7120 Shady Oak Lane Cumming, GA 2
    • 3 beds 3 baths ∙ 1,677 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,677 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.90
    •  
  • 4060 Mark Lake Road Cumming, GA 1
    • 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 1981
    LEASED 07/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.63
    •  
  • 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
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.94
    •  
PROPERTY LISTING DETAILS
Nino Difiore
1.678.313.6648
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6806069
Last Updated: 11/07/2020
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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