The median home sales price is $143,000. Home prices have recently ranged from a low of $63,900 and topping out at $157,000. According to statistics derived from the First Multiple Listing Service homes in Lanier Country Club Estates have been selling on average in 20 days or less. That’s pretty attractive, considering that homes in the greater Atlanta metro area have been taking as long as 90 days to sell on average.
This price range is particularly intriguing for investors because the median rental rate is $1,150 per month. Most recently the high rental rate in the neighborhood was $1,350 while the low was $900. For an investor financing 80% of the purchase price on the median priced home, a positive cash flow could be as much as $450 per month. That’s hard to beat!
At the time of this writing, there is only one home for sale, asking $140,000 and there are none available for rent. That’s not altogether bad news. It just speaks to the value of this neighborhood. This is a subdivision that deserves watching if you are an active investor or simply interested in owning a home to occupy personally.
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Read MoreIf you want help watching this market or if you would like help looking for property in other Cumming suburbs, we would love an opportunity to help. The really good thing about this is that if you do purchase an investment property in the Cumming, Georgia area, not only can we help you with renting it, but we can also professionally managed any homes in the Cumming, Georgia marketplace.
Daniel R. Wilhelm
Executive Broker
3 Options Realty, LLC., CRMC®, The Green Broker
678-397-1282
dan@3OptionsRealty.com
NOTE: Dan is a professional property manager as well as an investor with homes in many cities in Georgia including Atlanta, Cumming, Duluth, Johns Creek, Lawrenceville, Alpharetta, Marietta, Powder Springs, Woodstock and Roswell, Georgia.
The author of this Blog is neither an attorney nor an accountant. Nothing written should be construed as legal advice. Conclusions conveyed are outcomes based upon practical experience and should not be depended upon to be a common outcome of other similar circumstances. Consult with a professional before making tax or legal decisions.
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