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7670 Paddocks Mill Drive Cumming, GA 30041

3 Beds 2 Baths 2,012 sqft Built 2001

INVESTimate

$280,000

List Price

$1,610

$1,449 - $1,771

Rent Est.

$297,892  ( +6.39%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $139.17
  • 9 Days on Market
  • MLS # : 6768867
  • Updated Date : 08/24/2020 at 10:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,012 sqft
  • Baths : 2 full
Listing Agent's Description

4-sided brick ranch-style home w/covered patio on large landscaped yard in peaceful well-kept neighborhood. Recent new roof and HVAC. Formal living room/den/office. Separate dining room. Large family room with fireplace. Vaulted ceilings, large eat-in breakfast area. Master bedroom w/tray ceiling is separate form other bedrooms. Master bath has double vanities, garden tub, separate shower, & walk-in closet. Lots of storage with two attic access spaces. Just professionally cleaned. Eligible for 0 down mortgage.

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: 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
Chestatee Elementary School Primary Regular 967 64 7
Little Mill Middle School Middle Regular 905 56 7
North Forsyth High School High Regular 2,400 138 8

Chestatee Elementary School

  • Education Level: Primary
  • # of students: 967
  • # of teachers: 64
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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,449$1,771$1,610

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$5.0k$10k$15k

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 $1,610
EXPENSES Loan Payment -$1,033
Property Tax -$231
Property Insurance -$66
HOA -$25
Property Management Fees -$119
CASH FLOW
$136

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.

$280,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$30,637

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,797

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$1,7003$1,9004$1,900
$1,900
RENT COMPS ANALYSIS
  • 7670 Paddocks Mill Drive Cumming, 1
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.80
    •  
  • 7890 Timberline Overlook Cumming, 2
    • 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
    •  
  • 9170 Hannahs Crossing Drive Gainesville, 3
    • 4 beds 3 baths ∙ 2,055 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,055 Sqft ∙ Built 2019
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
  • 8930 Watersedge Court Gainesville, 4
    • 4 beds 2 baths ∙ 2,238 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,238 Sqft ∙ Built 2004
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jim Gibbons
1.678.977.2226
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6768867
Last Updated: 08/24/2020
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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