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

8087 Flamingo Drive Jonesboro, GA 30238

3 Beds 2 Baths 1,383 sqft Built 1992

$150,000

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $108.46
  • 2 Days on Market
  • MLS # : 6837132
  • Updated Date : 02/06/2021 at 08:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,383 sqft
  • Baths : 2 full
Listing Agent's Description

Wonderfully maintained ranch on a full basement. Recently updated kitchen with new cabinets and counter tops and newer appliances. Large breakfast bar and breakfast area. New laminate floors throughout as well as fresh paint. Brand new driveway just installed. Ample sized bedrooms and closet space. Master bathroom and secondary bathroom have new cabinets and counter tops. Living room is open and bright with a corner fireplace. Large basement perfect for man cave, workshop or entertaining your guests. Welcome home!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
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
 

$135,000$165,000$150,000

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$521
Property Tax -$163
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$203

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.

$150,000

PROJECTED PRICE

$1,060

PROJECTED RENT

0.71%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$45,500

INVESTMENT

$45,500

Down Payment
$37,500
Rehab Estimate
$5,750
Closing Costs
$2,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$521

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $37,500
Loan Amount $112,500
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$21,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,060

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $947

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,0163$1,060
$1,060
RENT COMPS ANALYSIS
  • 8087 Flamingo Drive Jonesboro, GA 3
    • 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $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
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.66
    •  
  • 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
    •  
PROPERTY LISTING DETAILS
Erick Jones
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837132
Last Updated: 02/06/2021
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