8243 Valley Stream Drive Jonesboro, GA 30236
$225,000 | 4 Bedrooms | 3 Bathrooms | 5.7% Cap Rate
I'm Interested in this Property
Listing Description
Listing: Awning - Redfin - Zillow
Welcome to our in-depth analysis of a potential long-term rental property in Jonesboro, Georgia. This article presents a comprehensive view of a property at 8243 Valley Stream Drive, offering essential details like property condition, renovation estimates, projected returns, and neighborhood analysis. If you're a real estate investor seeking lucrative opportunities in the Jonesboro rental market, you're in the right place.
Investing in Jonesboro, GA, can offer substantial long-term rewards for real estate investors. This analysis shows that the property at 8243 Valley Stream Drive, priced at $225,000, has a promising cap rate of 5.7% and a 10-year return of 23.4% per year. With the potential for customization and located in a desirable neighborhood, this property could be an ideal addition to a rental portfolio. However, potential investors should account for necessary renovations and local market conditions.
Investment Financials
How much does the home cost?
$225,000
How much will it earn in rent?
$1,850 per month
How much will it cost to renovate?
The estimated cost for renovation outlined in the article is $20,412. This includes costs for partially repainting the interior of the home to neutral colors ($5,072), installing new flooring in part of the home ($6,340), updating parts of the bathrooms ($4,500), and a budget of $4,500 for any major items that may need replacing due to the home being more than 15 years old.
How much cash can you take home in the first year?
Based on the information provided, this property at 8243 Valley Stream Drive, Jonesboro, GA 30236, is listed for $225,000. The property is expected to generate a monthly rent of $1,850, which equals to $22,200 per year in gross income. However, there will be costs associated with the property such as property tax, insurance, repairs/maintenance, property management, etc.
The provided analysis suggests that the cash flow after these expenses and mortgage payments in the first year would be approximately $1,784. This is the money you would "take home" in the first year after covering all costs and excluding any potential tax benefits, appreciation, or changes in property value.
It's also worth mentioning that the renovation cost estimate is around $20,412 which can have a considerable impact on your first-year net income if those renovations are necessary immediately.
However, these figures are estimates and could change based on varying factors such as changes in the local rental market, unexpected repair/maintenance costs, different loan terms, and more. For a more accurate prediction, it would be advisable to consult with a real estate professional or financial advisor.
What is the cap rate for this property?
The estimated cap rate for this property is 5.7%.
All of the cap rates and returns for this property are estimates and are not intended as a guarantee of income or returns. Every investment has risks. It's important to discuss any investment, returns, regulations, laws and projections with a financial advisor, attorney or another fiduciary.
Why People Rent In Jonesboro, Tennessee
Where is Jonesboro Tennessee?
Jonesboro, Tennessee, is a historic town situated in Washington County, in the northeastern part of the state. It is located in the Appalachian region, near the border with North Carolina. Jonesboro, Tennessee, played a significant role in American history as the site of the pivotal Greeneville Treaty negotiation between the United States government and the Cherokee Nation in 1785.
What companies are the major employers in and around Jonesboro Tennessee?
- Jonesborough Elementary School: Jonesborough Elementary School is an educational institution providing elementary education to students in the Jonesboro area. The school focuses on fostering academic growth, personal development, and a supportive learning environment for its students.
- Washington County School District: The Washington County School District encompasses multiple schools in the region, including elementary, middle, and high schools. The district is responsible for providing quality education, resources, and support to students at various grade levels.
- Jonesborough Senior Center: The Jonesborough Senior Center serves as a community hub for seniors, offering a range of programs, activities, and services. It aims to enhance the overall well-being of older adults by promoting social engagement, health, and lifelong learning opportunities.
- Washington County Sheriff's Office: The Washington County Sheriff's Office is responsible for maintaining law and order, ensuring public safety, and providing law enforcement services in the county. They work to protect the community, enforce laws, and respond to emergencies and incidents.
- Washington County Courthouse: The Washington County Courthouse is a governmental institution that serves as the seat of local judicial and administrative proceedings. It houses courtrooms, offices, and facilities where legal matters, including trials, hearings, and official documentation, are handled.
- Jonesborough Town Hall: The Jonesborough Town Hall serves as the administrative center for the town government. It houses offices and facilities where local governance, planning, and decision-making take place to ensure the efficient functioning and development of Jonesboro.
- Jonesborough Visitor Center and International Storytelling Center: The Jonesborough Visitor Center acts as an information hub for tourists and visitors, providing guidance, resources, and insights into the town's history, attractions, and events. It also houses the International Storytelling Center, which promotes the art of storytelling through performances, workshops, and educational initiatives.
- Washington County-Johnson City Emergency Medical Services: This emergency medical service agency provides pre-hospital medical care and transportation to individuals in need. Their dedicated team of paramedics and emergency medical technicians respond to medical emergencies, accidents, and other critical situations to deliver timely and essential care.
What are the demographics of Jonesboro Tennessee?
As of 2023, the population of Jonesborough, Tennessee is 6,210, with a density of 1,206 people per square mile over an area of 5.1 square miles. The population is growing at a rate of 2.12% annually.
The racial composition of Jonesborough is predominantly White, making up 92.36% of the population. Other racial groups include Black or African American (3.61%), Asian (3.36%), and those of two or more races (0.67%).
The median age in Jonesborough is 45.3 years, with males at a median age of 41.2 years and females at a median age of 46.8 years. Males make up 51.31% of the population and females 48.69%.
The average household income in Jonesborough is $73,560. The overall poverty rate is 8.43%, with 9.93% for males and 6.66% for females. Notably, 72% of the Asian population is below the poverty level, while for the White population it's 5.61%.
English is the predominant language spoken in Jonesborough, with 96.98% of residents speaking only English. The non-English language spoken by the largest group is Asian and Pacific Island languages, spoken by 1.85% of the population.
The overall marriage rate is 49.7%, with males most likely to be married in the 55-64 age group, and females in the 35-44 age group.
The town is also home to 480 veterans, of which 468 are male and 12 are female.
As of 2022, the homeownership rate for Tennessee was 67.3%. While this data is not specific to Jonesborough, it provides a rough estimate for the homeownership rate in the town.
What is the Niche neighborhood grade and school grade in Jonesboro Tennessee?
The Niche grade for the neighborhood of Jonesborough, Tennessee, is A-. The public schools in Jonesborough have a grade of B+ according to Niche.
What is the property tax rate in Jonesboro Tennessee?
The property tax rate in Jonesborough, Tennessee, for the year 2022 is $1.20 per $100 of assessed property value.
How many rental listings and vacancies are in Jonesboro Tennessee?
In Jonesboro, Tennessee, there are currently 46 houses and 135 apartments listed for rent. Additionally, there are 12 rental vacancies available.
What's the average rent in Jonesboro Tennessee?
In Jonesborough, Tennessee, the average rent varies depending on the size of the apartment. For studio apartments, the average monthly rent stands at $1,250. Those looking for a 1-bedroom apartment can expect to pay around $950 on average. If you require a bit more space, 2-bedroom apartments have an average rent of $1,500 per month. These figures provide a general overview of the rental market in Jonesborough, offering potential tenants an idea of what to anticipate when searching for accommodation in the area.
From Listing to Rental
- Place an offer on this property: If you want help finding the best representation, simply submit your information by pressing "I'm Interested in this Property"
- Close on the property: Closing on this property should be simple. An agent will help you review the contract and confirm that everything in the inspection report makes this a good deal.
- Hire a property manager to manage your property: If you choose to use Property Management we can help you select the best service and get you a deal on management in the area.
