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7130 Highbrook Circle E Cumming, GA 30041

5 Beds 3 Baths 2,312 sqft Built 2000

INVESTimate

$260,000

List Price

$1,580

$1,422 - $1,738

Rent Est.

$276,614  ( +6.39%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $112.46
  • 113 Days on Market
  • MLS # : 6655370
  • Updated Date : 08/21/2020 at 13:43
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,312 sqft
  • Baths : 3 full
Listing Agent's Description

Great Find in Forsyth! Welcome to this recently updated home in beautiful Cumming. This home offers fresh interior paint with brand new flooring and new carpet throughout. Open living room w/ cozy gas fireplace. Updated kitchen w/ white cabinets, subway tile backsplash and SS appliances. 2 finished rooms in basement w/ full bath. Large 2-tier deck great for entertaining or enjoying a cup of coffee. Fully fenced-In backyard. New roof, New HVAC, New hot water heat and Nest Thermostat. Close to downtown Cumming and Washington Farms. Easy access to 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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$959
Property Tax -$214
Property Insurance -$72
HOA -$33
Property Management Fees -$119
CASH FLOW
$183

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.

$260,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.39%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,400

INVESTMENT

$80,400

Down Payment
$65,000
Rehab Estimate
$11,500
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$34,172

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,541

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4953$1,5804$1,800
$1,800
RENT COMPS ANALYSIS
  • 7130 Highbrook Circle E Cumming, 3
    • 5 beds 3 baths ∙ 2,312 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,312 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.68
    •  
  • 7125 Jonsway Cumming, 1
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1992
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.61
    •  
  • 7770 Paces Lane Cumming, 2
    • 5 beds 4 baths ∙ 2,222 Sqft ∙ Built 2000 5 beds 4 baths ∙ 2,222 Sqft ∙ Built 2000
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.67
    •  
  • 8605 Woodland View Drive Gainesville, GA 4
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2001
    LEASED 06/30/18
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
PROPERTY LISTING DETAILS
Chris Mullins
1.404.512.9299
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6655370
Last Updated: 08/21/2020
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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