8537 Pineland DR Jonesboro, GA 30238
0.72 Acres Lot
UPDATED:
11/24/2024 01:04 PM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Marsh Harbor
MLS Listing ID 7489301
Construction Status Resale
HOA Y/N No
Originating Board First Multiple Listing Service
Year Built 1986
Annual Tax Amount $5,809
Tax Year 2023
Lot Size 0.723 Acres
Acres 0.7232
Property Description
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
State GA
County Clayton
Lake Name None
Interior
Heating Central, Heat Pump
Cooling Central Air
Window Features Insulated Windows
Exterior
Parking Features Parking Lot, Paved
Fence None
Community Features None
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
Waterfront Description None
View Other
Roof Type Composition
Accessibility None
Handicap Access None
Total Parking Spaces 8
Private Pool false
Building
Lot Description Level
Story Two
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Vinyl Siding
New Construction No
Construction Status Resale
Schools
Elementary Schools Swint
Middle Schools Pointe South
High Schools Mundys Mill
Others
Senior Community no
Tax ID 13244B F001
Special Listing Condition None
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