Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8813 Lexington Drive Jonesboro, GA 30238

3 Beds 3 Baths 1,560 sqft Built 1979

$184,900

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $118.53
  • 7 Days on Market
  • MLS # : 6826649
  • Updated Date : 01/12/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,560 sqft
  • Baths : 3 full
Listing Agent's Description

This is a newly renovated masterpiece. Enjoy this Split Level home that offers an updated kitchen with stainless steel appliances, granite counter tops, updated lighting and new flooring throughout the entire home. Large spacious family room with a fireplace. Enjoy a spacious master room. Master bath features updated flooring and new hardware throughout. Deck and with large backyard! Must see this beauty in person! Bring All Offers! Supra Lock Box - Use Showing Time for appointments

SEE MORE

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: 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
 

$166,410$203,390$184,900

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$642
Property Tax -$201
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$200

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.

$184,900

PROJECTED PRICE

$1,220

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.5%
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

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$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,749

INVESTMENT

$54,749

Down Payment
$46,225
Rehab Estimate
$5,750
Closing Costs
$2,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$642

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,225
Loan Amount $138,675
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$21,186

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,082

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,1923$1,2204$1,300
$1,300
RENT COMPS ANALYSIS
  • 8813 Lexington Drive Jonesboro, GA 3
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.78
    •  
  • 217 Bellwood Lane Riverdale, GA 1
    • 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
    •  
  • 8340 Webb Road Riverdale, GA 2
    • 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
    •  
  • 782 Jeb Stuart Drive Jonesboro, GA 4
    • 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 1964
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.70
    •  
PROPERTY LISTING DETAILS
Tenesha Giles
1.561.537.9867
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6826649
Last Updated: 01/12/2021
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.

BESbswy