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7567 Colonial Court Jonesboro, GA 30236

3 Beds 3 Baths 1,537 sqft Built 1980

$185,000

List Price

$1,030

$927 - $1.1K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $120.36
  • 3 Days on Market
  • MLS # : 6828851
  • Updated Date : 01/16/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,537 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Renovated home located on a cul-de-sac. Home is move in ready. Three bedrooms upstairs with two fully renovated bathrooms. Kitchen features granite counters, backsplash, deep kitchen sink, stainless steel appliances and a dining area. The multi level deck which is perfect for entertaining is accessed from both the kitchen and the family room. Office/playroom and half bath located off family room are perfect for working from home. Double pane windows, A/C unit 4 years old. Exterior freshly painted. Make sure to check out 3D Matterport tour.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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)
  • 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
Jackson Elementary School Primary Regular 1,011 59 6
Roberts Middle School Middle Regular 853 61 7
Mount Zion High School High Regular 1,341 69 3

Jackson Elementary School

  • Education Level: Primary
  • # of students: 1,011
  • # of teachers: 59
6
GreatSchools Rating

Roberts Middle School

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

Mount Zion High School

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

$166,500$203,500$185,000

PURCHASE PRICE

$927$1,133$1,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,030
EXPENSES Loan Payment -$643
Property Tax -$201
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$10

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.

$185,000

PROJECTED PRICE

$1,030

PROJECTED RENT

0.56%

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$643

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$5,876

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,030

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,148

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,025
1$1,0252$1,0303$1,0584$1,365
$1,365
RENT COMPS ANALYSIS
  • 7567 Colonial Court Jonesboro, GA 2
    • 3 beds 3 baths ∙ 1,537 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,537 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,030
    • $0.67
    •  
  • 2768 Woodhollow Lane Jonesboro, GA 1
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1990
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.76
    •  
  • 6587 Bent Creek Drive Rex, GA 3
    • 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1980
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,058
    • $0.73
    •  
  • 7541 Fielder Road Jonesboro, GA 4
    • 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1973
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,365
    • $0.75
    •  
PROPERTY LISTING DETAILS
Jeannie Posner
1.404.754.7603
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828851
Last Updated: 01/16/2021
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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