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7431 Carter Court Jonesboro, GA 30236

4 Beds 3 Baths 1,221 sqft Built 1971

$146,000

List Price

$950

$855 - $1K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $119.57
  • 3 Days on Market
  • MLS # : 6805953
  • Updated Date : 11/07/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,221 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This cul-de-sac home is ready for you! Main level features a large kitchen with plenty of dining space and family room with cozy fireplace. Perfect for hanging out with family or friends! New microwave, and new gas range stove is on the way. Upper level features a master bedroom with private bathroom suite, and 2 additional bedrooms that share a Jack and Jill bathroom. Basement could be used as an in-law suite or converted into a small apartment. It has it's own private entrance from outside. Great front and back yard

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
Kilpatrick Elementary School Primary Regular 681 42 4
Jonesboro Middle School Middle Regular 912 54 4
Jonesboro High School High Regular 1,321 70 3

Kilpatrick Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 42
4
GreatSchools Rating

Jonesboro Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 54
4
GreatSchools Rating

Jonesboro High School

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

$131,400$160,600$146,000

PURCHASE PRICE

$855$1,045$950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $950
EXPENSES Loan Payment -$539
Property Tax -$159
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$83

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.

$146,000

PROJECTED PRICE

$950

PROJECTED RENT

0.65%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$44,440

INVESTMENT

$44,440

Down Payment
$36,500
Rehab Estimate
$5,750
Closing Costs
$2,190

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$539

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $36,500
Loan Amount $109,500
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$11,536

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $950

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $849

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,0163$1,050
$1,050
RENT COMPS ANALYSIS
  • 7431 Carter Court Jonesboro, GA 1
    • 4 beds 3 baths ∙ 1,221 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,221 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.78
    •  
  • 201 Montego Circle Riverdale, GA 2
    • 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1976
    property image
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,016
    • $0.71
    •  
  • 758 Barnesdale Drive Jonesboro, GA 3
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1967
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.68
    •  
PROPERTY LISTING DETAILS
Ron Morgan
1.404.637.3924
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805953
Last Updated: 11/07/2020
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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