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$485,000

Beds
Unknown
sq ft
Unknown

2966 Old Jonesboro Rd SW, Atlanta, GA 30315

2966 Old Jonesboro Rd SW

Atlanta, GA 30315

  • 14 days on market
Incredible Cash Flow Investment Opportunity: 4-Unit Property with $4,600+ Monthly Income Looking for steady cash flow and strong rental income potential? This 4-unit property offers an outstanding $4,600+ in monthly income and the flexibility to be rented long-term or converted to short-term rentals (Airbnb). Located in a highly desirable area near downtown Atlanta, this property is perfect for savvy investors looking to capitalize on both consistent cash flow and property appreciation. Property Highlights: ? $4,600+ Monthly Cash Flow: With three of the four units currently occupied (Unit #3 is available), this property provides immediate income with the potential for further revenue growth through short-term rentals like Airbnb. ? Updated and Move-In Ready: Two of the units have been fully renovated in 2023, ensuring modern finishes and reducing immediate maintenance needs. All units feature new vinyl hardwood flooring (no carpet), which enhances appeal and simplifies upkeep. ? Flexibility in Leasing: The property’s versatile rental options (long-term or short-term) make it a great investment for maximizing returns, depending on market conditions and tenant demand. Unit Breakdown: Unit 1 – Fully Renovated Basement Apartment (2023) ? Private entrance with a basement-level entry (5 steps down). ? Brand new kitchen with granite countertops, stainless steel appliances (fridge & stove), and a modern stainless steel sink. ? New vinyl hardwood flooring (no carpet!). ? Updated bathroom and fixtures. ? Shared washer/dryer with Unit 2, located in the hallway between both units. Unit 2 – Fully Renovated Large Studio/1-Bedroom Basement Apartment (2023) ? Private entrance, with a modern open-concept studio/1-bedroom layout. ? New kitchen featuring granite countertops, stainless steel appliances (fridge & stove), and new stainless steel sink. ? Updated bathroom with new vanity and light fixtures. ? New vinyl hardwood flooring (no carpet!).

Details

Property type

Est. home value

$349,237

Property condition

Updated/Remodeled

Lot size

0.28 acres

Price per sq ft

Unknown

Year built

1940

Annual property taxes

$5,034

HOA

No

Price History

11/06/2024
FMLS

FMLS #7483125

Listed
$485,000
+46.19%
04/17/2023
GeorgiaMLS

GeorgiaMLS #20102519

Sold
$331,750

Schools & Community

Neighborhood: 

Hammond Park

Elementary school: 

Emma Hutchinson

Middle school: 

Crawford Long

High school: 

South Atlanta

Community features: 

Sidewalks, Street Lights

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$201,752
Asking price
$485,000
Closing costs (~8% of asking)
-$38,800
Est. remaining loan balance
-$244,448
Cash to seller
$201,752

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Guaranteed Rate Affinity

Loan start date

April 2023

Original loan amount

$248,812

Est. remaining balance

$244,448

Interest rate

6.65%

Loan type

New Conventional, 30 year

Seller

James Robert Matthews

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/22/2024 at 5:00 AM

Listing updated: 11/19/2024 at 3:24 PM

Listed by: John Lewis, Chapman Hall Realtors Phone #: (404) 252-9500

MLS: FMLS #7483125

FMLS logo

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