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8447 Gettysburg Court Jonesboro, GA 30238

4 Beds 3 Baths 1,950 sqft Built 1965

INVESTimate

$118,500

List Price

$1,060

$954 - $1,166

Rent Est.

$126,250  ( +6.54%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1965
  • Price/Sqft : $60.77
  • 15 Days on Market
  • MLS # : 6765768
  • Updated Date : 08/20/2020 at 02:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,950 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Calling all Investors (Homebuyers and Income Producers)! This four sided brick 4 bed / 2.5 bath traditional home is a diamond in progress! Has a new roof, original hardwood floors, fenced backyard, spacious downstairs, etc. Close to shopping centers, restaurants and accessible to I75. Located in the historic vicinity where the Battle of Jonesborough (modern name Jonesboro) was fought August 31 - September 1, 1864 during the Atlanta Campaign in the American Civil War.

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
Lee Street Elementary School Primary Regular 682 40 3
Jonesboro Middle School Middle Regular 912 54 4
Jonesboro High School High Regular 1,321 70 3

Lee Street Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 40
3
GreatSchools Rating

Jonesboro Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 54
4
GreatSchools Rating

Jonesboro High School

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

$106,650$130,350$118,500

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$437
Property Tax -$129
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$310

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.

$118,500

PROJECTED PRICE

$1,060

PROJECTED RENT

0.89%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.54%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$37,153

INVESTMENT

$37,153

Down Payment
$29,625
Rehab Estimate
$5,750
Closing Costs
$1,778

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$437

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $29,625
Loan Amount $88,875
See What Happens When You Reinvest Cash Flow

14.33

YEARS SAVED

$32,781

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
  • $0.54

    LIST RENT PER SQFT
  • $1,060

    COMP ESTIMATED VALUE
  • $0.54

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,0003$1,0604$1,250
$1,250
RENT COMPS ANALYSIS
  • 8447 Gettysburg Court Jonesboro, 3
    • 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 1965 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $0.54
    •  
  • 7981 Flanders Court Jonesboro, 1
    • 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 1972
    LEASED 02/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.48
    •  
  • 1759 Salina Drive Jonesboro, 2
    • 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1970
    LEASED 02/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.53
    •  
  • 8714 Dorsey Road Riverdale, 4
    • 3 beds 3 baths ∙ 2,027 Sqft ∙ Built 1973 3 beds 3 baths ∙ 2,027 Sqft ∙ Built 1973
    LEASED 07/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.62
    •  
PROPERTY LISTING DETAILS
Ann Golack
1.000.000.0000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6765768
Last Updated: 08/20/2020
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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