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7915 Black Horse Court Cumming, GA 30041

3 Beds 2 Baths 2,275 sqft Built 2001

$307,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $134.95
  • 3 Days on Market
  • MLS # : 6829281
  • Updated Date : 01/23/2021 at 09:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,275 sqft
  • Baths : 2 full
Listing Agent's Description

Hard to find ranch on a full basement on a private .47 acre lot. This three bedroom/two bath beauty has been well maintained. It features an open floor plan with the kitchen and the eat in area looking into the large family room. Kitchen has maple cabinets and granite counter tops. Home has separate living room/dining room and a den. The main bedroom has two separate closets and a spacious on suite bathroom. Two additional bedrooms and bathroom down the hall offer privacy for everyone. Two car attached garage leads into mud room/laundry room

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (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)
  • #1 Most affordable big city (WalletHub, 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
 

$276,300$337,700$307,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,066
Property Tax -$263
Property Insurance -$71
HOA -$50
Property Management Fees -$119
CASH FLOW
$341

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.

$307,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.62%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,105

INVESTMENT

$87,105

Down Payment
$76,750
Rehab Estimate
$5,750
Closing Costs
$4,605

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,750
Loan Amount $230,250
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$47,905

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,964

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9003$1,9004$1,910
$1,910
RENT COMPS ANALYSIS
  • 7915 Black Horse Court Cumming, GA 4
    • 3 beds 2 baths ∙ 2,275 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,275 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.84
    •  
  • 8845 Creekstone Place Gainesville, GA 1
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2003
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.82
    •  
  • 9170 Hannahs Crossing Drive Gainesville, GA 2
    • 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, GA 3
    • 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
Nancy Fogg
1.678.596.5771
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6829281
Last Updated: 01/23/2021
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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