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3094 Jonesboro Road Se Atlanta, GA 30354

3 Beds 3 Baths 1,948 sqft Built 1978

$275,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $141.17
  • 2 Days on Market
  • MLS # : 6853212
  • Updated Date : 03/13/2021 at 22:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,948 sqft
  • Baths : 3 full
Listing Agent's Description

Beautiful country setting. Property sits on 1 acre with (3 separate Tax ID parcels to one tract, must buy all three). Close to I-85 and Union City. Just 20 minutes to the ATL Airport, yet peaceful and tranquil. One acre of fenced pasture, landscaped yard around home and the rest is wooded with a Pond and Creek. Front entry way off deck, opens into large great room with stone floor to ceiling fireplace. Open floor plan of great room flows into kitchen (dining area). Granite countertops, new cabinets, breakfast bat, screened porch, and much more!

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: 30354

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $65k235k

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

Zip Code: 30354

ZipNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5901714

* 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
S. L. Lewis Elementary School Primary Regular 580 39 2
Bear Creek Middle School Middle Regular 962 71 4
Creekside High School High Regular 1,635 86 4

S. L. Lewis Elementary School

  • Education Level: Primary
  • # of students: 580
  • # of teachers: 39
2
GreatSchools Rating

Bear Creek Middle School

  • Education Level: Middle
  • # of students: 962
  • # of teachers: 71
4
GreatSchools Rating

Creekside High School

  • Education Level: High
  • # of students: 1,635
  • # of teachers: 86
4
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$955
Property Tax -$307
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$205

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.

$275,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% 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 $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$727

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,325

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2403$1,3004$1,3205$1,595
$1,595
RENT COMPS ANALYSIS
  • 3094 Jonesboro Road Se Atlanta, GA 2
    • 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.64
    •  
  • 320 Renee Dawn Court Riverdale, GA 1
    • 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 1989
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.59
    •  
  • 7245 Buck Creek Drive Fairburn, GA 3
    • 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 1981
    property image
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.70
    •  
  • 3220 Cadiz Circle College Park, GA 4
    • 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 1972
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.73
    •  
  • 6695 Buckhurst Trail Atlanta, GA 5
    • 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 1973
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.70
    •  
PROPERTY LISTING DETAILS
Kim Norwood
1.678.886.1589
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6853212
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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