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2015 Freeman Road Jonesboro, GA 30236

3 Beds 2 Baths 1,880 sqft Built 2002

$195,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $103.72
  • 4 Days on Market
  • MLS # : 6852487
  • Updated Date : 03/13/2021 at 10:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,880 sqft
  • Baths : 2 full
Listing Agent's Description

MOVE-IN READY RANCH HOME ON .94 ACRE LOT *NEWER ROOF AND HVAC *COVERED FRONT PORCH *NEUTRAL PAINT AND FLOORING THROUGHOUT *FIRESIDE GREAT ROOM *LARGE DINING ROOM *SUN-FILLED KITCHEN WITH PANTRY AND TILE FLOORING *OVERSIZED OWNER'S SUITE *PRIVATE MASTER BATHROOM WITH DOUBLE SINK VANITY, SOAKING TUB AND SEPARATE SHOWER *2 GENEROUSLY SIZED SECONDARY BEDROOMS WITH LAMINATE FLOORING *FENCED SIDE YARD *COVERED PATIO OVERLOOKS HUGE BACKYARD WITH TONS OF ROOM TO PLAY *LARGE 10' x 12' STORAGE SHED *NEIGHBORHOOD LAKE NEARBY *NO HOA

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #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)
  • #1 Moving Destination in the Nation (Penske, 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
Kemp Elementary School Primary Regular 670 38 5
Lovejoy High School High Regular 1,992 96 3
Kemp Elementary School Primary Unknown NA

Kemp Elementary School

  • Education Level: Primary
  • # of students: 670
  • # of teachers: 38
5
GreatSchools Rating

Lovejoy High School

  • Education Level: High
  • # of students: 1,992
  • # of teachers: 96
3
GreatSchools Rating

Kemp Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$677
Property Tax -$212
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$278

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.

$195,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$29,761

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,385

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4253$1,4404$1,500
$1,500
RENT COMPS ANALYSIS
  • 2015 Freeman Road Jonesboro, GA 1
    • 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.72
    •  
  • 11195 Knotty Pine Place Hampton, GA 2
    • 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 1998
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.74
    •  
  • 11248 James Madison Drive Hampton, GA 3
    • 3 beds 3 baths ∙ 1,986 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,986 Sqft ∙ Built 2004
    property image
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.73
    •  
  • 10819 Panhandle Road Hampton, GA 4
    • 4 beds 4 baths ∙ 2,024 Sqft ∙ Built 1988 4 beds 4 baths ∙ 2,024 Sqft ∙ Built 1988
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.74
    •  
PROPERTY LISTING DETAILS
Tracy Cousineau Advisors
1.770.905.6781
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6852487
Last Updated: 03/13/2021
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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