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7285 Lanier Cove Court Cumming, GA 30041

5 Beds 3 Baths 2,746 sqft Built 1998

$345,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $125.64
  • 4 Days on Market
  • MLS # : 6815065
  • Updated Date : 12/04/2020 at 08:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,746 sqft
  • Baths : 3 full
Listing Agent's Description

Spacious, well maintained, move in ready home. 3 bedrooms upstairs, plus in-law suite with 2nd full kitchen on the main level. Space for a home office, or large bonus room upstairs could be used as 5th bedroom. Separate shower and tub in master bathroom. New hardwood floors throughout, new carpet upstairs. Formal living room, separate dining room. Bright, eat-in kitchen overlooks living room. Fenced in back yard, level driveway. Quiet neighborhood with great location- easy access to Gainesville, Cumming, and Lake Lanier.

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)
  • 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)
  • #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)

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
 

$310,500$379,500$345,000

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 -$1,273
Property Tax -$284
Property Insurance -$80
HOA -$50
Property Management Fees -$119
CASH FLOW
$134

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.

$345,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.56%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$33,798

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
  • $0.71

    LIST RENT PER SQFT
  • $2,060

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$2,025
$2,025
RENT COMPS ANALYSIS
  • 7285 Lanier Cove Court Cumming, GA 1
    • 5 beds 3 baths ∙ 2,746 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,746 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.71
    •  
  • 9005 Forest Path Drive Gainesville, GA 2
    • 4 beds 5 baths ∙ 2,712 Sqft ∙ Built 2005 4 beds 5 baths ∙ 2,712 Sqft ∙ Built 2005
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.75
    •  
PROPERTY LISTING DETAILS
Sarah Maslowski
1.912.501.9449
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815065
Last Updated: 12/04/2020
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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