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443 Parkwood Way Jonesboro, GA 30236

3 Beds 2 Baths 1,496 sqft Built 1962

$177,900

List Price

$1,010

$909 - $1.1K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $118.92
  • 3 Days on Market
  • MLS # : 6839906
  • Updated Date : 02/13/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,496 sqft
  • Baths : 2 full
Listing Agent's Description

Solid and well kept 4 sided brick ranch in a prime location on Tara Blvd with easy access to I-285 & I-75. Newer windows and quality blinds. The water heater was replaced in 2018, the new 5 burner gas stove & fridge in 2018, complete new heating and cooling system replaced in May 2020. Private fenced in backyard with extended size deck with storage. Solid, gleaming hardwood floor throughout. This is a gem and will not last long!

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
Harper Elementary School Primary Regular 872 56 5
Sequoyah Middle School Middle Regular 868 51 4
Drew High School High Regular 1,565 82 3

Harper Elementary School

  • Education Level: Primary
  • # of students: 872
  • # of teachers: 56
5
GreatSchools Rating

Sequoyah Middle School

  • Education Level: Middle
  • # of students: 868
  • # of teachers: 51
4
GreatSchools Rating

Drew High School

  • Education Level: High
  • # of students: 1,565
  • # of teachers: 82
3
GreatSchools Rating
 

$160,110$195,690$177,900

PURCHASE PRICE

$909$1,111$1,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,010
EXPENSES Loan Payment -$618
Property Tax -$194
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$23

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.

$177,900

PROJECTED PRICE

$1,010

PROJECTED RENT

0.57%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$52,894

INVESTMENT

$52,894

Down Payment
$44,475
Rehab Estimate
$5,750
Closing Costs
$2,669

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$618

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,475
Loan Amount $133,425
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$6,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,010

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,055

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,010
1$1,0102$1,1453$1,250
$1,250
RENT COMPS ANALYSIS
  • 443 Parkwood Way Jonesboro, GA 1
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,010
    • $0.68
    •  
  • 6462 Granada Drive Forest Park, GA 2
    • 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 1961
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.71
    •  
  • 6352 Waikiki Way Forest Park, GA 3
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1963
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.70
    •  
PROPERTY LISTING DETAILS
Sara Vo
1.770.367.5252
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6839906
Last Updated: 02/13/2021
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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