Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

781 River Mist Drive Jonesboro, GA 30238

3 Beds 2 Baths 1,478 sqft Built 1991

$169,999

List Price

$1,140

$1K - $1.3K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $115.02
  • 2 Days on Market
  • MLS # : 6834005
  • Updated Date : 01/30/2021 at 11:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,478 sqft
  • Baths : 2 full
Listing Agent's Description

WELCOME HOME !! REALLY NICE RANCH 3 BEDROOM AND 2 BATH HOME IN A VERY NICE QUITE COMMUNITY. ONLY 5 minutes FROM THE FAYETTE PAVILION HIGH CIELING IN THE FAMILY ROOM. WITH A BEAUTIFUL OPEN FLOOR PLAN . SCREENED IN PATIO THAT OVER LOOKS THAT BACKYARD. HOME WONT LAST LONG PRICED TO SELL!!!

SEE MORE

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Zip Code: 30238

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $76k209k

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

Zip Code: 30238

ZipNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7401509

* 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
Kemp Elementary School Primary Regular 670 38 5
Mundys Mill Middle School Middle Regular 795 47 3
Mundy's Mill High School High Regular 1,695 82 2

Kemp Elementary School

  • Education Level: Primary
  • # of students: 670
  • # of teachers: 38
5
GreatSchools Rating

Mundys Mill Middle School

  • Education Level: Middle
  • # of students: 795
  • # of teachers: 47
3
GreatSchools Rating

Mundy's Mill High School

  • Education Level: High
  • # of students: 1,695
  • # of teachers: 82
2
GreatSchools Rating
 

$152,999$186,999$169,999

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$590
Property Tax -$185
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$190

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.

$169,999

PROJECTED PRICE

$1,140

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.5%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,500
Loan Amount $127,499
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$19,896

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,042

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,1293$1,140
$1,140
RENT COMPS ANALYSIS
  • 781 River Mist Drive Jonesboro, GA 3
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $0.77
    •  
  • 217 Bellwood Lane Riverdale, GA 1
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1973
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.66
    •  
  • 350 Country Club Drive Jonesboro, GA 2
    • 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 1996
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,129
    • $0.75
    •  
PROPERTY LISTING DETAILS
Pierre Reeves
1.678.929.7469
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6834005
Last Updated: 01/30/2021
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.

BESbswy