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102 Lakeside Farm Road Zebulon, NC 27597

3 Beds 2 Baths 1,627 sqft Built 1985

$229,500

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $141.06
  • 3 Days on Market
  • MLS # : 2355446
  • Updated Date : 11/28/2020 at 13:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,627 sqft
  • Baths : 2 full
Listing Agent

Dallas Pearce Realty

Listing Agent's Description

Check out this renovated ranch on over an acre! Engineered hardwoods through the entire house! Gorgeous kitchen with granite counter tops. Fireplace in the living room. No HOA, no city taxes, no water bill! This one won't last long - schedule your showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #7 Best Big City for Jobs 2018 (Forbes, 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

Zip Code: 27597

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k265k

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

Zip Code: 27597

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7591595

* 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
Bunn Elementary School Primary Regular 689 47 4
Bunn Middle School Middle Regular 706 41 7
Bunn High School High Regular 861 54 5

Bunn Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 47
4
GreatSchools Rating

Bunn Middle School

  • Education Level: Middle
  • # of students: 706
  • # of teachers: 41
7
GreatSchools Rating

Bunn High School

  • Education Level: High
  • # of students: 861
  • # of teachers: 54
5
GreatSchools Rating
 

$206,550$252,450$229,500

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$847
Property Tax -$162
Property Insurance -$59
Property Management Fees -$138
CASH FLOW
$324

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$229,500

PROJECTED PRICE

$1,530

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,568

INVESTMENT

$66,568

Down Payment
$57,375
Rehab Estimate
$5,750
Closing Costs
$3,443

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$847

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,375
Loan Amount $172,125
See What Happens When You Reinvest Cash Flow

11.83

YEARS SAVED

$49,719

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,651

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,4953$1,530
$1,530
RENT COMPS ANALYSIS
  • 102 Lakeside Farm Road Zebulon, NC 3
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.94
    •  
  • 1312 Parks Village Road Zebulon, NC 1
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1971
    property image
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.92
    •  
  • 10000 Wood Sap Lane Zebulon, NC 2
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 2002
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.11
    •  
PROPERTY LISTING DETAILS
Dallas Pearce
1.919.810.2062
Dallas Pearce Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2355446
Last Updated: 11/28/2020
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