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7305 Wynfield Drive Cumming, GA 30040

3 Beds 3 Baths 2,470 sqft Built 1993

$325,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $131.58
  • 3 Days on Market
  • MLS # : 6837043
  • Updated Date : 02/06/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,470 sqft
  • Baths : 3 full
Listing Agent's Description

Well maintained, traditional home in the highly sought after Wynfield neighborhood. Home located in the award winning Vickery Creek Elementary & Middle School district. This property is conveniently found just across the street from the neighborhood amenities center, with pool, tennis courts, and basketball goals. Situated on over half an acre, enjoy the full fenced backyard, cozy front porch, and rear deck perfect to relax or entertain. Interior features fresh paint throughout, solid surface main level floors, and finished bonus room on the basement level.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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
Vickery Creek Elementary School Primary Regular 1,194 65 7
Vickery Creek Middle School Middle Regular 1,242 66 9
West Forsyth High School High Regular 2,362 126 8

Vickery Creek Elementary School

  • Education Level: Primary
  • # of students: 1,194
  • # of teachers: 65
7
GreatSchools Rating

Vickery Creek Middle School

  • Education Level: Middle
  • # of students: 1,242
  • # of teachers: 66
9
GreatSchools Rating

West Forsyth High School

  • Education Level: High
  • # of students: 2,362
  • # of teachers: 126
8
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,129
Property Tax -$268
Property Insurance -$75
HOA -$32
Property Management Fees -$119
CASH FLOW
$278

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.

$325,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.58%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$42,183

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,050

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$2,0004$2,1955$2,300
$2,300
RENT COMPS ANALYSIS
  • 7305 Wynfield Drive Cumming, GA 2
    • 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
  • 4640 Woodbine Way Alpharetta, GA 1
    • 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 2011
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 7020 Silver Fox Trail Cumming, GA 3
    • 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 1997
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 7360 Cavaletti Circle Cumming, GA 4
    • 4 beds 3 baths ∙ 2,654 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,654 Sqft ∙ Built 1996
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.83
    •  
  • 7115 Red Fox Lane Cumming, GA 5
    • 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 1997
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.88
    •  
PROPERTY LISTING DETAILS
Mark Spain
1.770.886.9000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837043
Last Updated: 02/06/2021
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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