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8222 Lullwater Court Jonesboro, GA 30236

4 Beds 4 Baths 2,344 sqft Built 1983

$210,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $89.59
  • 3 Days on Market
  • MLS # : 6828317
  • Updated Date : 01/15/2021 at 19:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,344 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

BRICK FRONT HOME ON HUGE PRIVATE LOT *COVERED WRAP AROUND FRONT PORCH *HARDWOOD FLOORS *SPACIOUS FAMILY ROOM WITH BRICK SURROUND FIREPLACE OPENS TO FORMAL DINING ROOM *UPDATED, EAT-IN KITCHEN WITH STAINLESS STEEL APPLIANCES, GRANITE COUNTERS, TILED BACKSPLASH, ABUNDANCE OF CABINET SPACE AND LARGE BREAKFAST AREA *FORMAL LIVING ROOM *PLANTATION SHUTTERS *UPPER LEVEL OWNER'S SUITE WITH PRIVATE MASTER BATHROOM *2 GENEROUSLY SIZED SECONDARY BEDROOMS ON UPPER LEVEL *GARAGE CONVERTED INTO AN IN-LAW SUITE WITH BEDROOM AND FULL BATHROOM *ENTERTAINER'S DELIGHT ~ HUGE SCREENED-IN

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MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 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
Arnold Elementary School Primary Regular 558 32 7
Roberts Middle School Middle Regular 853 61 7
Jonesboro High School High Regular 1,321 70 3

Arnold Elementary School

  • Education Level: Primary
  • # of students: 558
  • # of teachers: 32
7
GreatSchools Rating

Roberts Middle School

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

Jonesboro High School

  • Education Level: High
  • # of students: 1,321
  • # of teachers: 70
3
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$729
Property Tax -$228
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$331

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.

$210,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.70%

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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

10.92

YEARS SAVED

$35,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,418

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4803$1,520
$1,520
RENT COMPS ANALYSIS
  • 8222 Lullwater Court Jonesboro, GA 2
    • 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.63
    •  
  • 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
    •  
  • 9010 Mandarin Drive Jonesboro, GA 3
    • 3 beds 2 baths ∙ 2,372 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,372 Sqft ∙ Built 1977
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.64
    •  
PROPERTY LISTING DETAILS
Tracy Cousineau Advisors
1.770.905.6781
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828317
Last Updated: 01/15/2021
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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