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8474 Members Drive Jonesboro, GA 30236

4 Beds 3 Baths 2,304 sqft Built 2010

$365,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $158.42
  • 2 Days on Market
  • MLS # : 6819273
  • Updated Date : 01/02/2021 at 08:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,304 sqft
  • Baths : 3 full
Listing Agent's Description

Magnificent Golf Course Community Home with 4 bedrooms 3 full baths. Fireplace in the Family Room, Separate Dining Room also opens to the Family Room for overflow gatherings if needed. This home is located right on the fairway. Open plan with stained cabinets in the kitchen which opens to the vaulted ceiling family room. Owners Suite on the main has a separate shower and tub. Two Secondary bedrooms are located on the other side of the home with a second full bath. Huge bedroom upstairs with a third full bathroom. Love to play golf? Play close to home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

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
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,347
Property Tax -$397
Property Insurance -$72
HOA -$83
Property Management Fees -$119
CASH FLOW
$32

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.

$365,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.56%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$13,753

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,590

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,515
1$1,5152$1,6003$2,050
$2,050
RENT COMPS ANALYSIS
  • 8474 Members Drive Jonesboro, GA 3
    • 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.89
    •  
  • 617 Creekstone Court Jonesboro, GA 1
    • 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
    •  
  • 2532 Carnes Road Jonesboro, GA 2
    • 3 beds 3 baths ∙ 2,356 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,356 Sqft ∙ Built 2004
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.68
    •  
PROPERTY LISTING DETAILS
Patricia Johnson
1.678.502.8238
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6819273
Last Updated: 01/02/2021
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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