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7747 Lark Court Jonesboro, GA 30236

4 Beds 2 Baths 1,256 sqft Built 1972

$144,500

List Price

$890

$801 - $979

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $115.05
  • 3 Days on Market
  • MLS # : 6799806
  • Updated Date : 11/02/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,256 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Gorgeous home with modern upgrades. Stainless steel appliances, granite countertops, new roof, large deck in the rear.

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
Callaway Elementary School Primary Regular 851 53 4
Kendrick Middle School Middle Regular 761 50 4
Riverdale High School High Regular 1,392 68 3

Callaway Elementary School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 53
4
GreatSchools Rating

Kendrick Middle School

  • Education Level: Middle
  • # of students: 761
  • # of teachers: 50
4
GreatSchools Rating

Riverdale High School

  • Education Level: High
  • # of students: 1,392
  • # of teachers: 68
3
GreatSchools Rating
 

$130,050$158,950$144,500

PURCHASE PRICE

$801$979$890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $890
EXPENSES Loan Payment -$533
Property Tax -$157
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$29

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.

$144,500

PROJECTED PRICE

$890

PROJECTED RENT

0.62%

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

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$44,043

INVESTMENT

$44,043

Down Payment
$36,125
Rehab Estimate
$5,750
Closing Costs
$2,168

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$533

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $36,125
Loan Amount $108,375
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$7,288

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $890

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $848

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$890
1$8902$9503$1,0004$1,0165$1,050
$1,050
RENT COMPS ANALYSIS
  • 7747 Lark Court Jonesboro, GA 1
    • 4 beds 2 baths ∙ 1,256 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,256 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $890
    • $0.71
    •  
  • 248 Hickory Trail Riverdale, GA 2
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1986
    property image
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.65
    •  
  • 217 Bellwood Lane Riverdale, GA 3
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1973
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.66
    •  
  • 201 Montego Circle Riverdale, GA 4
    • 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 5
    • 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
Shane Sie Brownell
1.404.997.3833
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6799806
Last Updated: 11/02/2020
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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