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9447 Lantana Trail Jonesboro, GA 30238

5 Beds 3 Baths 3,300 sqft Built 2015

$279,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $84.55
  • 3 Days on Market
  • MLS # : 6846645
  • Updated Date : 02/27/2021 at 09:49
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,300 sqft
  • Baths : 3 full
Listing Agent's Description

This will NOT last! This beautiful front brick home has 5 bedrooms and 3 full baths. From the entry way into the home, the hardwood floors lead into the open concept family area. There’s a bonus/flex room immediately after the front door. The dining room has beautiful cofferred ceilings. The brick fireplace in the family room is the perfect area for relaxation. The open concept kitchen has an island, breakfast, pantry and a great view into the family room; perfect to entertain the guests! In addition, there is a bedroom and full bath on the main!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • #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)

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
Brown Elementary School Primary Regular 809 52 4
Mundys Mill Middle School Middle Regular 795 47 3
Mundy's Mill High School High Regular 1,695 82 2

Brown Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 52
4
GreatSchools Rating

Mundys Mill Middle School

  • Education Level: Middle
  • # of students: 795
  • # of teachers: 47
3
GreatSchools Rating

Mundy's Mill High School

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

$251,100$306,900$279,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$969
Property Tax -$304
Property Insurance -$53
HOA -$25
Property Management Fees -$119
CASH FLOW
-$139

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.

$279,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.48%

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$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$969

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,058

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $994

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,129
1$1,1292$1,1803$1,330
$1,330
RENT COMPS ANALYSIS
  • 9447 Lantana Trail Jonesboro, GA 3
    • 5 beds 3 baths ∙ 1,316 Sqft ∙ Built 2015 5 beds 3 baths ∙ 1,316 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.01
    •  
  • 350 Country Club Drive Jonesboro, GA 1
    • 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 1996
    property image
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,129
    • $0.75
    •  
  • 227 Marsh Glen Drive Jonesboro, GA 2
    • 4 beds 3 baths ∙ 1,560 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,560 Sqft ∙ Built 2004
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.76
    •  
PROPERTY LISTING DETAILS
Meko Fountain
1.678.358.2589
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6846645
Last Updated: 02/27/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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