8537 Pineland Drive, Jonesboro GA 30238

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$735,000

8537 Pineland Drive, Jonesboro, GA 30238

bedrooms

bathrooms

square feet

Acreage

0.7232

Open Houses

year built

1986

Full Baths

Half Baths

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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!

Location
Subdivision	Marsh Harbor
County	Clayton - GA
Elementary School	Swint
Middle School	Pointe South
High School	Mundys Mill

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Open houses

None scheduled.

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MLS number: 7489301

Listing agent: Innovative Prop Group

Listing broker: Re/Max Town & Country (770) 345-8211

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. [source]

Last update: Saturday, November 30 2024 at 3:55 a.m. EST

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