8451 Magnolia DR new Save Request In-Person Tour Request Virtual Tour
Jonesboro,GA 30238
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,851 sqft
Price per Sqft $137
Subdivision Markland
MLS Listing ID 7569651
Style Other
Bedrooms 8
Full Baths 2
Year Built 1971
Annual Tax Amount $2,918
Tax Year 2024
Lot Size 0.258 Acres
Property Sub-Type Single Family Residence
Property Description
This turnkey 8-bedroom, 3-bathroom (2 shared baths) co-living home presents a rare opportunity for investors seeking high monthly cash flow in the Atlanta metro area. Fully renovated and fully occupied through PadSplit, this 1,850 sqft property generates $4,450/month in gross rents with an estimated NOI of $2,300/month and a 10.6% cap rate.
Just minutes from major interstates and Hartsfield-Jackson International Airport, Magnolia Drive is ideally positioned for workforce housing, attracting reliable tenants looking to live closer to job hubs. PadSplit is a co-living platform that helps provide affordable housing to working professionals while maximizing returns for property owners. The platform handles tenant screening and onboarding, income verification, rent collection, and provides easy communication and maintenance management tools.
If you're unfamiliar with how PadSplit works or want to explore whether this model is right for you, reach out—we'd be happy to walk you through it.
Location
State GA
County Clayton
Rooms
Other Rooms None
Dining Room None
Interior
Heating Natural Gas
Cooling Central Air
Flooring Carpet,Ceramic Tile,Vinyl
Fireplaces Type None
Laundry Common Area
Exterior
Exterior Feature None
Parking Features Driveway
Fence None
Pool None
Community Features None
Utilities Available Electricity Available,Water Available
Waterfront Description None
View Other
Roof Type Composition,Shingle
Building
Lot Description Back Yard
Story Multi/Split
Foundation Slab
Sewer Public Sewer
Water Public
Structure Type Cedar,Frame,Wood Siding
New Construction No
Schools
Elementary Schools Lee Street
Middle Schools Jonesboro
High Schools Jonesboro
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition None