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104 Fawn Court Cary, NC 27513

3 Beds 3 Baths 1,337 sqft Built 1986

$284,900

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $213.09
  • 5 Days on Market
  • MLS # : 2358189
  • Updated Date : 12/18/2020 at 21:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,337 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty Nc, Llc

Listing Agent's Description

A little slice of Asheville in the heart of Cary! Charming turn-key home sits on a large, heavily wooded, 1/3 of an acre cul-de-sac lot in the popular Hampstead Park subdivision. Property backs to the Black Creek Greenway. Remodeled kitchen w/ quartz c'tops, white shaker cabinets, & stainless appliances. Plumbing replaced- no poly! Carpet (2020), Heat Pump (2012), Roof (2017), Windows (2012), & Paint (2020). Engineered hardwoods & a wood burning fireplace. Swing & appliances stay. Won't last!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hampstead

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380kPrice in $151k385k

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

Neighborhood: Hampstead

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21000110012001300140015001600170018001900Rent in $9621978

* 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
Briarcliff Elementary School Primary Regular 626 44 7
Reedy Creek Middle School Middle Regular 829 52 3
Cary High School High Regular 2,396 135 7

Briarcliff Elementary School

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 44
7
GreatSchools Rating

Reedy Creek Middle School

  • Education Level: Middle
  • # of students: 829
  • # of teachers: 52
3
GreatSchools Rating

Cary High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 135
7
GreatSchools Rating
 

$256,410$313,390$284,900

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$1,051
Property Tax -$210
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$133

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.

$284,900

PROJECTED PRICE

$1,300

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.9%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,051

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$12,672

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,294

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,3003$1,4504$1,4755$1,595
$1,595
RENT COMPS ANALYSIS
  • 104 Fawn Court Cary, NC 2
    • 3 beds 3 baths ∙ 1,337 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,337 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.97
    •  
  • 906 Castalia Drive Cary, NC 1
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1978
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.96
    •  
  • 901 Medlin Road Cary, NC 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 901 Medlin Drive Cary, NC 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.98
    •  
  • 110 Laurel Branch Drive Cary, NC 5
    • 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 1994
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
PROPERTY LISTING DETAILS
Taurean Peaks
1.919.791.7446
Fathom Realty Nc, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2358189
Last Updated: 12/18/2020
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