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1020 Shellfish Drive Willow Spring(s), NC 27592

3 Beds 2 Baths 1,597 sqft Built 2005

INVESTimate

$255,000

List Price

$1,460

$1,314 - $1,606

Rent Est.

$73,325

Investment Est.

$269,357 ( +5.63%) 1 YR EST. FORECAST

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AVAILABLE

1 YEAR
Gross Yield	6.87%
NOI	$10,765

15 YEAR
Yield	8.50%
Appreciation	3.53%
TOTAL RETURN	22.83%

PROPERTY INFO

August 25, 2020 RECENTLY ADDED

FACTS

Built In 2005
Price/Sqft : $159.67
4 Days on Market
MLS # : 2338807
Updated Date : 08/26/2020 at 04:01

CONSTRUCTION

Beds : 3
Floor Size : 1,597 sqft
Baths : 2 full

Listing Agent

Trademark Residential

Listing Agent's Description

Great Home in Willow Springs, with lots of potential. This 3 bedroom ranch home has an open concept great for family gatherings. There is a screen porch off the dinning area overlooking a huge backyard with views of the pond.

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1020 Shellfish Dr

North Carolina

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MARKET HIGHLIGHTS

Raleigh Market Report

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

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

Neighborhood: Meadow Stream Hills

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

Neighborhood: Meadow Stream Hills

* 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
Willow Springs Elementary School	Primary	Regular	1,017	61	8
Fuquay-varina Middle School	Middle	Regular	819	55	4
Fuquay-varina High School	High	Regular	2,117	114	7

Willow Springs Elementary School

Education Level: Primary
# of students: 1,017
# of teachers: 61

GreatSchools Rating

Fuquay-varina Middle School

Education Level: Middle
# of students: 819
# of teachers: 55

GreatSchools Rating

Fuquay-varina High School

Education Level: High
# of students: 2,117
# of teachers: 114

GreatSchools Rating

FINANCIALS

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$229,500$280,50000$255,000

PURCHASE PRICE

$1,314$1,60600$1,460

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

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PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,460
EXPENSES	Loan Payment	-$941
	Property Tax	-$150
	Property Insurance	-$58
	HOA	-$15
	Property Management Fees	-$131



CASH FLOW $164

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.

$255,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	4.33%
Appreciation Year (1-5)	5.63%
Maintenance Year (1-5)	8.00%
Vacancy	7.51%
Length of Stay Years	2

TOTAL CASH OUT OF POCKET

INVESTMENT

$73,325

Down Payment	$63,750
Rehab Estimate	$5,750
Closing Costs	$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$63,750
Loan Amount	$191,250

See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$36,024

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,460
LIST RENT
$0.91
LIST RENT PER SQFT

$1,480
COMP ESTIMATED VALUE
$0.93
COMP AVG. RENT PER SQFT

Comps Range

$1,375

1$1,3752$1,4603$1,5004$1,795

$1,795

RENT COMPS ANALYSIS

1,597
PROPERTY SQFT
$0.93
AVG RENT PER SQFT
$1,480
ESTIMATED VALUE
$1,460
LIST RENT

1020 Shellfish Drive Willow Spring(s), 5

3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2005
Price

Price Per SQFT

$255,000

$159.67
13104 Callens Lane Willow Spring(s), 1

3 beds 3 baths ∙ 1,566 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,566 Sqft ∙ Built 1986
SOLD 01/09/20
Price

Price Per SQFT

$190,000

$121.33
6721 Pine Brook Lane Willow Spring(s), 2

4 beds 2 baths ∙ 1,696 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,696 Sqft ∙ Built 1999
SOLD 02/13/20
Price

Price Per SQFT

$212,000

$125.00
7412 Blannie Farms Lane Willow Spring(s), 3

3 beds 3 baths ∙ 1,601 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,601 Sqft ∙ Built 2003
SOLD 09/19/19
Price

Price Per SQFT

$240,000

$149.91
6704 Willow Chase Drive Willow Spring(s), 4

3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1990
SOLD 07/20/20
Price

Price Per SQFT

$249,500

$141.92

1020 Shellfish Drive Willow Spring(s), 2

3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2005
Rent

Rent Per SQFT

$1,460

$0.91
7304 Chimara Court Willow Spring(s), 1

3 beds 3 baths ∙ 1,761 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 2006
LEASED 12/01/19
Rent

Rent Per SQFT

$1,375

$0.78
7309 Blannie Farms Lane Willow Spring(s), 3

3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2003
LEASED 07/19/20
Rent

Rent Per SQFT

$1,500

$0.92
6885 Mt Pleasant Road Willow Spring(s), 4

3 beds 2 baths ∙ 1,661 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 2005
LEASED 04/16/19
Rent

Rent Per SQFT

$1,795

$1.08

PROPERTY LISTING DETAILS

Michael Potter
1.919.538.3030
Trademark Residential

Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317

Triangle Multiple Listing Service ( TMLS)
MLS #: 2338807
Last Updated: 08/26/2020

1020 Shellfish Drive Willow Spring(s), NC 27592

INVESTimate

$255,000

$1,460

$73,325

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Willow Springs Elementary School

Fuquay-varina Middle School

Fuquay-varina High School

FINANCIALS

$229,500$280,50000$255,000

$1,314$1,60600$1,460

Acquisition Concierge

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$255,000

$1,460

0.57%

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$941

8.67

$36,024

$255,000

$159.67

$214,860

$134.54

COMPS RANGE

PRICE COMPS ANALYSIS

$1,460

$0.91

$1,480

$0.93

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS