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

1022 Andersonwood Drive Fuquay Varina, NC 27526

3 Beds 3 Baths 1,947 sqft Built 1985

$274,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $141.19
  • 6 Days on Market
  • MLS # : 2363473
  • Updated Date : 01/29/2021 at 14:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,947 sqft
  • Baths : 2 full , 1 half
Listing Agent

Howard Perry & Walston Realtor

Listing Agent's Description

Charming Cape Cod style home with oversized 1 car garage on large private fenced lot in Neils Crossing. Spacious kitchen with granite countertops, tile backsplash and stainless appliances. Enjoy the outdoors with mature hardwoods, large deck and brick patio with fire pit for cool Carolina evenings.

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: Neils Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $128k265k

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

Neighborhood: Neils Crossing

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8741610

* 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
Fuquay-varina Elementary School Primary Regular 797 51 5
Fuquay-varina Middle School Middle Regular 819 55 4
Fuquay-varina High School High Regular 2,117 114 7

Fuquay-varina Elementary School

  • Education Level: Primary
  • # of students: 797
  • # of teachers: 51
5
GreatSchools Rating

Fuquay-varina Middle School

  • Education Level: Middle
  • # of students: 819
  • # of teachers: 55
4
GreatSchools Rating

Fuquay-varina High School

  • Education Level: High
  • # of students: 2,117
  • # of teachers: 114
7
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$955
Property Tax -$204
Property Insurance -$65
HOA -$17
Property Management Fees -$119
CASH FLOW
$190

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.

$274,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$34,914

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,635

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,650
$1,650
RENT COMPS ANALYSIS
  • 1022 Andersonwood Drive Fuquay Varina, NC 2
    • 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 657 Aiken Parkway Fuquay Varina, NC 1
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 1967
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 1405 Old Regent Drive Fuquay Varina, NC 3
    • 3 beds 3 baths ∙ 2,115 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,115 Sqft ∙ Built 2002
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
PROPERTY LISTING DETAILS
Jon Mcbride
1.919.669.8647
Howard Perry & Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2363473
Last Updated: 01/29/2021
BESbswy