Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

102 Fairburn Court Wake Forest, NC 27587

4 Beds 3 Baths 1,700 sqft Built 1986

$300,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $176.47
  • 5 Days on Market
  • MLS # : 2359524
  • Updated Date : 01/01/2021 at 19:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,700 sqft
  • Baths : 2 full , 1 half
Listing Agent

Highgarden Real Estate Nc

Listing Agent's Description

Coming soon! Will not last long! All re done and BEAUTIFUL! Move in Ready! NEW Roof, flooring, paint and kitchen appliances. Large master suite, vaulted ceiling and custom tile shower! The kitchen has stunning granite and custom tile backsplash. On a quite cul-de-sac, very private.

SEE MORE

MARKET HIGHLIGHTS

  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • Raleigh-Durham combined metros contribute to 24.1% of North Carolina's state economy i.e. Gross State Product (USMayors.org, 2018)
  • University of North Carolina, Duke University and Davidson University systems drive rental demand
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • Raleigh-Durham combined metros' economy is worth over $137 billion in Gross Metro Product and projected to grow to $146 billion in 2019 (USMayors.org, 2018)
  • Raleigh-Durham combined metros has 65.3% labor force participation rate higher than the national rate of 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Tyler Run

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $137k359k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Tyler Run

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600170018001900Rent in $8911937

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Wake Forest Elementary School Primary Regular 568 37 3
Wake Forest Middle School Middle Regular 1,021 60 4
Wake Forest High School High Regular 1,953 106 7

Wake Forest Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 37
3
GreatSchools Rating

Wake Forest Middle School

  • Education Level: Middle
  • # of students: 1,021
  • # of teachers: 60
4
GreatSchools Rating

Wake Forest High School

  • Education Level: High
  • # of students: 1,953
  • # of teachers: 106
7
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,107
Property Tax -$237
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$43

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$300,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$21,542

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,480

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,602

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,435
1$1,4352$1,4803$1,7004$1,7005$1,795
$1,795
RENT COMPS ANALYSIS
  • 102 Fairburn Court Wake Forest, NC 2
    • 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.87
    •  
  • 716 Lakeview Avenue Wake Forest, NC 1
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2000
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.90
    •  
  • 820 Siena Drive Wake Forest, NC 3
    • 4 beds 3 baths ∙ 1,895 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,895 Sqft ∙ Built 1999
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
  • 502 Tyler Run Drive Wake Forest, NC 4
    • 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 1988
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 808 Silver Linden Lane Wake Forest, NC 5
    • 4 beds 3 baths ∙ 1,825 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,825 Sqft ∙ Built 1997
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
PROPERTY LISTING DETAILS
Ashley Hum
1.919.616.5492
Highgarden Real Estate Nc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2359524
Last Updated: 01/01/2021
BESbswy