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2302 Coach Way Jonesboro, GA 30236

4 Beds 3 Baths 1,714 sqft Built 2005

$149,950

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $87.49
  • 4 Days on Market
  • MLS # : 6821831
  • Updated Date : 12/26/2020 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,714 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Very well maintained townhome with plenty of space. One of the only units that is a 4 bed/2.5 bath! Move-in ready. Includes fresh new paint, new carpet, and new appliances. Can be a great investment property. Few minutes away from Southlake Mall, Publix, restaurants and shopping.

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
Mount Zion Elementary School Primary Regular 617 31 4
Roberts Middle School Middle Regular 853 61 7
Mount Zion High School High Regular 1,341 69 3

Mount Zion Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 31
4
GreatSchools Rating

Roberts Middle School

  • Education Level: Middle
  • # of students: 853
  • # of teachers: 61
7
GreatSchools Rating

Mount Zion High School

  • Education Level: High
  • # of students: 1,341
  • # of teachers: 69
3
GreatSchools Rating
 

$134,955$164,945$149,950

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$553
Property Tax -$163
Property Insurance -$60
HOA -$50
Property Management Fees -$119
CASH FLOW
$254

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.

$149,950

PROJECTED PRICE

$1,200

PROJECTED RENT

0.80%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,487

INVESTMENT

$45,487

Down Payment
$37,488
Rehab Estimate
$5,750
Closing Costs
$2,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,488
Loan Amount $112,463
See What Happens When You Reinvest Cash Flow

11

YEARS SAVED

$29,211

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,200
$1,200
RENT COMPS ANALYSIS
  • 2302 Coach Way Jonesboro, GA
    • 4 beds 3 baths ∙ 1,714 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,714 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.70
    •  
PROPERTY LISTING DETAILS
Aj Reel
1.404.991.8802
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6821831
Last Updated: 12/26/2020
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.

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