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8764 Ashton Road Jonesboro, GA 30238

3 Beds 1 Baths 1,300 sqft Built 1969

INVESTimate

$129,900

List Price

$880

$792 - $968

Rent Est.

$138,395  ( +6.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1969
  • Price/Sqft : $99.92
  • 7 Days on Market
  • MLS # : 6769768
  • Updated Date : 08/21/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,300 sqft
  • Baths : 1 full
Listing Agent's Description

Recently renovated home with 3 bedrooms and large room in basement that can be used as a 4th Bedroom or a den. Large bathroom with vanity area separate from tub/shower area. Beautiful, private fenced backyard, separate laundry room. Newly painted, new carpet, new bathroom vanity. Walk to Marta, convenient to Tara Blvd or Hwy 85. Seller will consider a lease purchase for qualifying buyer. Great investment property!

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
Suder Elementary School Primary Regular 741 46 4
Pointe South Middle School Middle Regular 824 49 3
Mundy's Mill High School High Regular 1,695 82 2

Suder Elementary School

  • Education Level: Primary
  • # of students: 741
  • # of teachers: 46
4
GreatSchools Rating

Pointe South Middle School

  • Education Level: Middle
  • # of students: 824
  • # of teachers: 49
3
GreatSchools Rating

Mundy's Mill High School

  • Education Level: High
  • # of students: 1,695
  • # of teachers: 82
2
GreatSchools Rating
 

$116,910$142,890$129,900

PURCHASE PRICE

$792$968$880

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $880
EXPENSES Loan Payment -$479
Property Tax -$141
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$88

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.

$129,900

PROJECTED PRICE

$880

PROJECTED RENT

0.68%

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$40,174

INVESTMENT

$40,174

Down Payment
$32,475
Rehab Estimate
$5,750
Closing Costs
$1,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$479

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $32,475
Loan Amount $97,425
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$11,336

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $880

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $907

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$880
1$8802$1,0003$1,0204$1,0205$1,192
$1,192
RENT COMPS ANALYSIS
  • 8764 Ashton Road Jonesboro, 1
    • 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1969 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $880
    • $0.68
    •  
  • 217 Bellwood Lane Riverdale, 2
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1973
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.66
    •  
  • 568 Dixon Road Jonesboro, 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1968
    LEASED 04/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,020
    • $0.73
    •  
  • 785 Redland Drive Jonesboro, 4
    • 4 beds 2 baths ∙ 1,496 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,496 Sqft ∙ Built 1985
    LEASED 04/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,020
    • $0.68
    •  
  • 8340 Webb Road Riverdale, 5
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1977
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,192
    • $0.72
    •  
PROPERTY LISTING DETAILS
Chris Holland
1.404.915.1490
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6769768
Last Updated: 08/21/2020
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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