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7345 Morning Dew Drive Cumming, GA 30040

4 Beds 4 Baths 2,429 sqft Built 1997

$359,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $147.80
  • 4 Days on Market
  • MLS # : 6831420
  • Updated Date : 02/05/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,429 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Beautiful Home! Renovations begun. A MUST SEE! New Roof just installed. Master on Main with 2 Large secondary Bedrooms upstairs with full bath. Lower Level finished with full bath - awesome Man Cave or Mother-in-Law Suite. Refinished Australian Cypress wood flooring on main level and upstairs hallway of 2nd level. Bedrooms upstairs have brand new carpet. New Eco-smart thermostats installed. New stone patio & sprinkler systems. Forsyth Co Schools which are one of the best in GA! This one will go SUPER FAST! Hard to find Home in Forsyth County!

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
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
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,247
Property Tax -$296
Property Insurance -$74
HOA -$28
Property Management Fees -$119
CASH FLOW
$126

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.

$359,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.53%

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$28,552

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,955

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,890
$1,890
RENT COMPS ANALYSIS
  • 7345 Morning Dew Drive Cumming, GA 3
    • 4 beds 4 baths ∙ 2,429 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,429 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.78
    •  
  • 4585 Elmwood Trail Cumming, GA 1
    • 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 2017
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
  • 6230 Weldon Drive Cumming, GA 2
    • 3 beds 3 baths ∙ 2,152 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,152 Sqft ∙ Built 1995
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
PROPERTY LISTING DETAILS
Susan Griesbach
1.404.558.8458
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831420
Last Updated: 02/05/2021
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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