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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $114.72
- 7 Days on Market
- MLS # : 6818917
- Updated Date : 12/15/2020 at 09:33
CONSTRUCTION
- Beds : 3
- Floor Size : 2,527 sqft
- Baths : 2 full , 1 half
Listing Agent's Description
Gorgeous, well maintained home on the 17th hole at Lake Spivey Country Club! Homeowners have put a lot of love into renovating this beautiful ranch home! Home features all new, dark rich hardwood floors, new carpet, neutral gray paint & crown molding throughout, new faucets and granite counter tops in this big, spacious kitchen! Kitchen features breakfast area, breakfast bar and plenty of cabinet space with open concept to over look the huge great room that includes nice, cozy gas fireplace.
SEE MORE
- 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)
- #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)
PRICE & RENT TRENDS
Zip Code: 30236
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 30236
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,960 |
| EXPENSES | Loan Payment | -$1,070 |
| Property Tax | -$315 | |
| Property Insurance | -$76 | |
| HOA | -$15 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$365
|
||
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.
$289,900
PROJECTED PRICE
$1,960
PROJECTED RENT
0.68%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$82,574
LOAN DETAILS
$1,070
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $72,475 |
| Loan Amount | $217,425 |
9.5
YEARS SAVED
$46,324
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,960
LIST RENT -
$0.78
LIST RENT PER SQFT
-
$1,466
COMP ESTIMATED VALUE -
$0.58
COMP AVG. RENT PER SQFT
Comps Range
-
8186 Seven Oaks Drive Jonesboro, GA 3
- 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 1993
- Rent
- Rent Per SQFT
- $1,960
- $0.78
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2321 Fireside Court Jonesboro, GA 1
- 3 beds 2 baths ∙ 2,195 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,195 Sqft ∙ Built 1982
LEASED 11/15/19- Rent
- Rent Per SQFT
- $1,250
- $0.57
-
2545 Wall Street Jonesboro, GA 2
- 3 beds 2 baths ∙ 2,412 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,412 Sqft ∙ Built 1997
LEASED 07/09/19- Rent
- Rent Per SQFT
- $1,425
- $0.59
PROPERTY LISTING DETAILS
1.404.431.1311
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6818917
Last Updated: 12/15/2020
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.
