8537 Pineland Drive,
Jonesboro,
GA
30238
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!
This is an Active listing.
Broker Office Phone Number: 404-410-2927
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