8537 Pineland DR new Save Request In-Person Tour Request Virtual Tour
Jonesboro,GA 30238
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Marsh Harbor
MLS Listing ID 10418255
Construction Status Resale
HOA Y/N No
Year Built 1986
Annual Tax Amount $5,809
Tax Year 2023
Lot Size 0.723 Acres
Property Description
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. Co Recent Renovations: $120,000 over the last 14 months, including large back decks and added storage, backing onto a quiet greenbelt. CURRENT RENT ROLL: Co Unit A: 51,395 (lease until 4/30/25) Co Unit B: 51,495 (lease until 4/30/25) Co Unit C: 51,435 (lease until 1/31/26) Co Unit D: Vacant (potential rent assumed at $1,495) FINANCIAL SUMMARY: 1. Gross Rental Income: Co Annual income assuming full occupancy: $69,840 2. Annual Expenses: Co Estimated at 16% of gross income: $11,174.40 3. Net Operating Income (NOl): Co After expenses: $58,665.60 4. Cap Rate: Co Actual cap rate is 7.52%, Projected 8% CAP RATE! Cash Flow: Co Assuming a 6.3% interest rate on a 30-year loan, the annual debt service is approximately $43,424.52. Co 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!
Location
State GA
County Clayton
Rooms
Basement Crawl Space
Interior
Heating Central,Heat Pump
Cooling Central Air
Exterior
Garage Kitchen Level,Parking Pad
Garage Spaces 8.0
Community Features None
Utilities Available Electricity Individual Meters,Gas Individual Meters,Water Individual Meters
Building
Story Two
Sewer Public Sewer
Level or Stories Two
Construction Status Resale
Schools
Elementary Schools Swint
Middle Schools Pointe South
High Schools Mundys Mill
Others
Acceptable Financing 1031 Exchange,Cash,Conventional,Other
Listing Terms 1031 Exchange,Cash,Conventional,Other
Special Listing Condition Agent Owned