8537 Pineland Drive
Jonesboro,
GA
30238
Property Details
| List Price: |
$735,000 |
| Beds: |
-- |
| Baths: |
-- |
| Status: |
Active |
SqFt: |
-- |
| Agency: |
REMAX Town & Country Innovative Properties Group |
| Agency Phone: |
(404) 410-2927 |
Description/Comments
| Lot Size: |
0 acre(s) |
| Property Type: |
Residential Multi Family-Quadruplex |
| Year Built: |
1986 |
| Notes: |
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<br />
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! |
| MlsNumber: |
-- |
| ListingId: |
7489301 |
Estimate Your Monthly Payment
| Listing Provided By: |
REMAX Town & Country Innovative Properties Group, original listing |
| Phone: |
(404) 410-2927 |
| Office Phone: |
(404) 410-2927 |
| Agent Name: |
Innovative Prop Group |
| Disclaimer: |
Copyright © 2024 First Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |
