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8339 Seven Oaks Drive Jonesboro, GA 30236

3 Beds 3 Baths 2,134 sqft Built 1977

$230,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $107.78
  • 8 Days on Market
  • MLS # : 6811827
  • Updated Date : 11/23/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,134 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This beauty is a must see!! It is situated across the street from the golf course yet without any association fees. Its huge corner lot features a side entrance garage. The large living room and dining room is ready to host any family gathering or entertainment party. The home also has a separate den that has recently been renovated and ready to host family or game night entertainers. The huge owner’s suite is located on the second floor and features a large closet, bath and separate shower. The secondary bedrooms are large with plenty of closet space.

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 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)
  • 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).
  • #1 World’s Busiest Airport(Airports Council International, 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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$849
Property Tax -$250
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$214

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.

$230,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.65%

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$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$26,939

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,451

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,365
1$1,3652$1,4253$1,5004$1,515
$1,515
RENT COMPS ANALYSIS
  • 8339 Seven Oaks Drive Jonesboro, GA 3
    • 3 beds 3 baths ∙ 2,134 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,134 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.70
    •  
  • 7541 Fielder Road Jonesboro, GA 1
    • 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1973
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,365
    • $0.75
    •  
  • 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
    •  
  • 617 Creekstone Court Jonesboro, GA 4
    • 3 beds 3 baths ∙ 2,156 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,156 Sqft ∙ Built 1995
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,515
    • $0.70
    •  
PROPERTY LISTING DETAILS
Sherrod Snell
1.404.450.2434
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6811827
Last Updated: 11/23/2020
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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