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785 Atkins Court Cumming, GA 30041

4 Beds 3 Baths 2,570 sqft Built 1988

$415,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $161.48
  • 3 Days on Market
  • MLS # : 6825481
  • Updated Date : 01/09/2021 at 12:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,570 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

WELCOME HOME!! RUN TO LIVE IN THIS DESIRED & FRIENDLY CUMMING NEIGHBORHOOD. YOUR BRIGHT, OPEN, RENOVATED **MODERN HOME** SITS ON ALMOST**ONE ACRE CUL-DE-SAC LOT**WOWZA!! FEATURES A CUSTOM BUILT KITCHEN WITH VIEWS TO THE FAMILY AND DINING ROOM & A BRAND NEW OWNER'S BATH. YOU CAN NESTLE IN FRONT OF YOUR FIREPLACES OR RELAX ON THE REAR COVERED DECK OVERLOOKING NATURE'S BEAUTY. HUGE UPSTAIRS REC ROOM PERFECT FOR WORKOUTS OR PLAYROOM. DON'T MISS THIS ONE!!***CLOSE TO ALPHARETTA, JOHNS CREEK, THE COLLECTION SHOPPES, RESTAURANTS & GA 400!*** GREAT LOCATION AND PHENOM PRICE!!

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MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • 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 has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 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
Shiloh Point Elementary School Primary Regular 1,223 79 8
Piney Grove Middle School Middle Regular 1,309 78 9
South Forsyth High School High Regular 2,693 151 9

Shiloh Point Elementary School

  • Education Level: Primary
  • # of students: 1,223
  • # of teachers: 79
8
GreatSchools Rating

Piney Grove Middle School

  • Education Level: Middle
  • # of students: 1,309
  • # of teachers: 78
9
GreatSchools Rating

South Forsyth High School

  • Education Level: High
  • # of students: 2,693
  • # of teachers: 151
9
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,441
Property Tax -$342
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$171

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.

$415,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.52%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$36,060

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,140

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9504$2,1505$2,400
$2,400
RENT COMPS ANALYSIS
  • 785 Atkins Court Cumming, GA 4
    • 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.84
    •  
  • 4110 Chestnut Springs Court Cumming, GA 1
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1995
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 840 Spring Valley Drive Cumming, GA 2
    • 4 beds 3 baths ∙ 2,616 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,616 Sqft ∙ Built 1984
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.75
    •  
  • 1790 Vinery Avenue Cumming, GA 3
    • 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 2002
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
  • 1560 Broadhempston Court Cumming, GA 5
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2002
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.94
    •  
PROPERTY LISTING DETAILS
Emma Dashiell Charles
1.404.455.0790
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6825481
Last Updated: 01/09/2021
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. © 2017 First Multiple Listing Service, Inc.

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