Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1113 Gable Terrace Jonesboro, GA 30236

4 Beds 3 Baths 1,951 sqft Built 2008

INVESTimate

$180,000

List Price

$1,450

$1,305 - $1,595

Rent Est.

$193,770  ( +7.65%)   1 YR EST. FORECAST

PROPERTY INFO

90% chance this property will be sold within the next 10 days HOT INVESTMENT
August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $92.26
  • 5 Days on Market
  • MLS # : 6771079
  • Updated Date : 08/23/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,951 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

READY TO START BUILDING A STRONG PORTFOLIO AND LOOKING FOR A DEPENDABLE TENANT THAT PAYS THEIR RENT ON TIME EVERY MONTH? WELL YOU FOUND YOUR HIDDEN GEM!! STRONG TENANTS THAT WOULD LIKE TO STAY IF POSSIBLE LEASE ENDS IN DECEMBER. TOTAL ELECTRIC HOME HAS 4 LARGE BEDROOMS, 2.5 BATHROOMS, FENCED IN BACK YARD. SPACIOUS LIVING ROOM, WALK IN MASTER BATHROOM WITH GARDEN TUB, AND STAND ALONE SHOWER. HOME COME WITH A GREAT FLOOR PLAN, AND TONS OF STORAGE. HURRY THIS HOME WON'T LAST LONG HOME SOLD AS IS BUT IS IN GREAT CONDITION! BUYER IS FREE TO INSPECT.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30236

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $81k209k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 30236

ZipNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7591509

* 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
Kilpatrick Elementary School Primary Regular 681 42 4
Jonesboro Middle School Middle Regular 912 54 4
Jonesboro High School High Regular 1,321 70 3

Kilpatrick Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 42
4
GreatSchools Rating

Jonesboro Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 54
4
GreatSchools Rating

Jonesboro High School

  • Education Level: High
  • # of students: 1,321
  • # of teachers: 70
3
GreatSchools Rating
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$664
Property Tax -$196
Property Insurance -$65
HOA -$13
Property Management Fees -$119
CASH FLOW
$394

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$180,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.65%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

13.25

YEARS SAVED

$45,129

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,356

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,235
1$1,2352$1,4003$1,450
$1,450
RENT COMPS ANALYSIS
  • 1113 Gable Terrace Jonesboro, 3
    • 4 beds 3 baths ∙ 1,951 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,951 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.74
    •  
  • 7704 Newbury Drive Jonesboro, 1
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 2006
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,235
    • $0.76
    •  
  • 7459 Garnet Drive Jonesboro, 2
    • 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2006
    property image
    LEASED 04/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.63
    •  
PROPERTY LISTING DETAILS
Tina Jones
1.678.984.3115
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6771079
Last Updated: 08/23/2020
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.

BESbswy