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104 S Woodstone Drive Archer Lodge, NC 27527

3 Beds 2 Baths 1,319 sqft Built 1998

$230,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $174.37
  • 6 Days on Market
  • MLS # : 2361262
  • Updated Date : 01/12/2021 at 22:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,319 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Clayton one-story home offers granite countertops. This home is vacant and cleaned regularly. This home has been virtually staged to illustrate its potential! Thanks for viewing!

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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)
  • 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

PRICE & RENT TRENDS

Neighborhood: Archers Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $103k265k

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

Neighborhood: Archers Pointe

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2950100010501100115012001250130013501400145015001550Rent in $9271595

* 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
Riverwood Elementary School Primary Regular 837 49 6
Archer Lodge Middle School Middle Regular 1,058 62 4
Corinth Holders High School High Regular 1,679 91 5

Riverwood Elementary School

  • Education Level: Primary
  • # of students: 837
  • # of teachers: 49
6
GreatSchools Rating

Archer Lodge Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 62
4
GreatSchools Rating

Corinth Holders High School

  • Education Level: High
  • # of students: 1,679
  • # of teachers: 91
5
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$799
Property Tax -$173
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$106

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.

$230,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.6%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$24,071

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,253

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,375
$1,375
RENT COMPS ANALYSIS
  • 104 S Woodstone Drive Archer Lodge, NC 1
    • 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.95
    •  
  • 25 Denby Circle Clayton, NC 2
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 2012
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.95
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.919.679.9883
Opendoor Brokerage Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2361262
Last Updated: 01/12/2021
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