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2841 Lake Jodeco Road Jonesboro, GA 30236

4 Beds 3 Baths 2,556 sqft Built 2000

$274,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $107.55
  • 4 Days on Market
  • MLS # : 6839600
  • Updated Date : 02/12/2021 at 15:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,556 sqft
  • Baths : 3 full
Listing Agent's Description

Beautiful, Spacious 4 bedroom, 3 full bath home with NO HOA! Welcoming foyer, Large family room with fireplace, formal dining area, and 3 bedrooms all with new hardwood flooring. Galley Kitchen with tile flooring and a breakfast area. Downstairs you will find another large bedroom, and full bathroom. There is also 2 BONUS flex spaces downstairs. The first one is right in the immediate downstairs area. Great for an office, work out space, second family room. Then go into the garage and there you will find a hidden gem, another SPACIOUS bonus room area. Perfect if you are

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • 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)

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
Suder Elementary School Primary Regular 741 46 4
Roberts Middle School Middle Regular 853 61 7
Jonesboro High School High Regular 1,321 70 3

Suder Elementary School

  • Education Level: Primary
  • # of students: 741
  • # of teachers: 46
4
GreatSchools Rating

Roberts Middle School

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

Jonesboro High School

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

$247,410$302,390$274,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$955
Property Tax -$299
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$201

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.

$274,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.60%

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$200k$400k$600k$800k$1.0M

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$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$22,134

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6494$1,650
$1,650
RENT COMPS ANALYSIS
  • 2841 Lake Jodeco Road Jonesboro, GA 4
    • 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.65
    •  
  • 205 Crown Oaks Court Stockbridge, GA 1
    • 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 2000
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.66
    •  
  • 2532 Carnes Road Jonesboro, GA 2
    • 3 beds 3 baths ∙ 2,356 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,356 Sqft ∙ Built 2004
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.68
    •  
  • 240 Longwood Drive Jonesboro, GA 3
    • 4 beds 3 baths ∙ 2,781 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,781 Sqft ∙ Built 1992
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.59
    •  
PROPERTY LISTING DETAILS
Nichole Peterman
1.678.360.1602
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6839600
Last Updated: 02/12/2021
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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