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7125 Jonsway Cumming, GA 30041

3 Beds 2 Baths 2,200 sqft Built 1992

$270,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $122.73
  • 7 Days on Market
  • MLS # : 6820853
  • Updated Date : 12/22/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,200 sqft
  • Baths : 2 full
Listing Agent's Description

Come home to your Hill Top Paradise in a well maintained & quiet neighborhood. Home features recent updates throughout & is perfect for the family that wants the tranquility of north Georgia living but doesn’t want to sacrifice the benefits of living close to the city limits. Take a step out of the backdoor & you will experience the zen of an Outdoor Oasis that boasts natural privacy, a large deck for entertaining & a fire pit for friends & family to enjoy. Neighborhood offers a swimming pool & dock. Close proximity to boat ramp, shopping, entertainment, and GA 400.

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: 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
Chattahoochee Elementary School Primary Regular 778 49 7
Little Mill Middle School Middle Regular 905 56 7
North Forsyth High School High Regular 2,400 138 8

Chattahoochee Elementary School

  • Education Level: Primary
  • # of students: 778
  • # of teachers: 49
7
GreatSchools Rating

Little Mill Middle School

  • Education Level: Middle
  • # of students: 905
  • # of teachers: 56
7
GreatSchools Rating

North Forsyth High School

  • Education Level: High
  • # of students: 2,400
  • # of teachers: 138
8
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$996
Property Tax -$225
Property Insurance -$70
HOA -$36
Property Management Fees -$119
CASH FLOW
$493

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.

$270,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.72%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

13.5

YEARS SAVED

$68,755

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,189

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,9403$2,075
$2,075
RENT COMPS ANALYSIS
  • 7125 Jonsway Cumming, GA 2
    • 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.88
    •  
  • 7890 Timberline Overlook Cumming, GA 1
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 1999
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 5730 Cains Cove Road Cumming, GA 3
    • 3 beds 2 baths ∙ 1,926 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,926 Sqft ∙ Built 1983
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $1.08
    •  
PROPERTY LISTING DETAILS
Cinthya Bourdua
1.678.617.6527
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820853
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.

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