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2948 Medina Drive Jonesboro, GA 30236

4 Beds 3 Baths 1,742 sqft Built 1975

$153,800

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $88.29
  • 7 Days on Market
  • MLS # : 6814316
  • Updated Date : 01/04/2021 at 16:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,742 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

A must see! An Investor Special. Nice 3/2/1.2 home in Jonesboro. Owner motivated to sell at right offer price.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 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
Mount Zion Elementary School Primary Regular 617 31 4
Rex Mill Middle School Middle Regular 1,066 62 5
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

Rex Mill Middle School

  • Education Level: Middle
  • # of students: 1,066
  • # of teachers: 62
5
GreatSchools Rating

Mount Zion High School

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

$138,420$169,180$153,800

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$534
Property Tax -$167
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$419

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.

$153,800

PROJECTED PRICE

$1,300

PROJECTED RENT

0.85%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,507

INVESTMENT

$46,507

Down Payment
$38,450
Rehab Estimate
$5,750
Closing Costs
$2,307

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$534

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $38,450
Loan Amount $115,350
See What Happens When You Reinvest Cash Flow

14.92

YEARS SAVED

$38,127

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,298

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3653$1,365
$1,365
RENT COMPS ANALYSIS
  • 2948 Medina Drive Jonesboro, GA 1
    • 4 beds 3 baths ∙ 1,742 Sqft ∙ Built 1975 4 beds 3 baths ∙ 1,742 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.75
    •  
  • 7541 Fielder Road Jonesboro, GA 2
    • 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1973
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,365
    • $0.75
    •  
  • 7520 Fielder Road Jonesboro, GA 3
    • 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 1973
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,365
    • $0.74
    •  
PROPERTY LISTING DETAILS
Kimberlie Arnold
1.470.312.5899
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6814316
Last Updated: 01/04/2021
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. © 2017 First Multiple Listing Service, Inc.

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