8537 Pineland Drive
Jonesboro, GA 30238
- – beds
- – baths
- ~3/4 acre lot
- 1986 build
- – on site
Fully renovated, this property offers excellent cash flow potential w/turnkey PM in place. If you are looking to build wealth, Current appraisal November 2024 of $830,000 PROPERTY HIGHLIGHTS: Unit Type: 4-unit Large Townhome quadplex, each with 2 beds and 2 baths, totaling 4,520 sq. ft. • Recent Renovations: $120,000 over the last 14 months, including large back decks and added storage, backing onto a quiet greenbelt. CURRENT RENT ROLL: • Unit A: 51,395 (lease until 4/30/25) • Unit B: 51,495 (lease until 4/30/25) • Unit C: 51,435 (lease until 1/31/26) • Unit D: Vacant (potential rent assumed at $1,495) FINANCIAL SUMMARY: 1. Gross Rental Income: • Annual income assuming full occupancy: $69,840 2. Annual Expenses: • Estimated at 16% of gross income: $11,174.40 3. Net Operating Income (NOl): • After expenses: $58,665.60 4. Cap Rate: • Actual cap rate is 7.52%, Projected 8% CAP RATE! Cash Flow: • Assuming a 6.3% interest rate on a 30-year loan, the annual debt service is approximately $43,424.52. • After debt service, projected annual cash flow is $15,241.08, Strong positive cash return. Seller open to discussion buying down buyer interest rate, 5-6% mortgage rate possible to increase cashflow!
Last checked:
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Checking…
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Last updated Nov 23, 2024
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MLS# 7489301 —
This property is listed in more than one place. See it here.
The Building
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Year Built:1986
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Construction Materials:Vinyl Siding
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Levels:Two
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Roof:Composition
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Window Features:Insulated Windows
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Security Features:Carbon Monoxide Detector(s)
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Accessibility Features:None
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Green Energy Efficient:None
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# of Units Total:4
Location
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Directions:GPS
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Latitude:33.521715
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Longitude:-84.384146
The Property
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Parcel Number:13244B F001
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Property Type:Residential Income
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Property Type:Residential Income
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Property Subtype:Quadruplex
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Property Condition:Resale
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Lot Features:Level
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Lot Size Acres:0.7232
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Lot Size Source:Public Records
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View:Other
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Fencing:None
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Waterfront Features:None
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Water Body Name:None
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Property Attached:false
Listing Agent
- Contact info:
- Agent phone:
- (404) 410-2927
- Office phone:
- (404) 410-2927
Taxes
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Tax Year:2023
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Tax Lot:1
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Tax Annual Amount:5809
The Listing
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Home Warranty:false
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Special Listing Conditions:None
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Special Circumstances:Owner/Agent
Heating & Cooling
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Cooling:Central Air
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Heating:Central
Utilities
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Utilities:Cable Available
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Sewer:Public Sewer
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Water Source:Public
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Green Energy Generation:None
Schools
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Elementary School:Swint
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Middle Or Junior School:Pointe South
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High School:Mundys Mill
The Community
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Subdivision Name:Marsh Harbor
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Community Features:None
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Pool Private:false
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Association:false
Parking
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Parking Total:8
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Parking Features:Parking Lot
Listing Provided Courtesy of REMAX Town & Country Innovative Properties Group
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Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
11/23/24
Nov 23, 2024
|
Listed / Active | FMLS | $735,000 |
