8537 Pineland DriveJonesboro, 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!
| a month ago | Listing first seen on site | |
| a month ago | Listing updated with changes from the MLS® |
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