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1045 S Willhaven Drive Fuquay Varina, NC 27526

3 Beds 2 Baths 1,596 sqft Built 2007

$258,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $161.65
  • 6 Days on Market
  • MLS # : 2353968
  • Updated Date : 11/20/2020 at 05:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,596 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

This beautiful RANCH in sought after PHILLIPS POINTE sits on .27 acres and is minutes from downtown Fuquay. It has been immaculately maintained and boasts updated flooring, bathroom cabinetry and systems. Enjoy the warmth of your fireplace and the breeze on your SCREENED IN PORCH. This home also features a NEW ROOF, and SOLAR PANELS to help keep your electric bills super low. Make this home yours before it's gone!

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
  • 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)

PRICE & RENT TRENDS

Neighborhood: Phillips Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $108k265k

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

Neighborhood: Phillips Pointe

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8071610

* 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
 

$232,200$283,800$258,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$952
Property Tax -$221
Property Insurance -$58
HOA -$10
Property Management Fees -$119
CASH FLOW
-$40

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.

$258,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$74,120

INVESTMENT

$74,120

Down Payment
$64,500
Rehab Estimate
$5,750
Closing Costs
$3,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,500
Loan Amount $193,500
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$11,191

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,385

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3203$1,5004$1,5755$1,645
$1,645
RENT COMPS ANALYSIS
  • 1045 S Willhaven Drive Fuquay Varina, NC 2
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.83
    •  
  • 1068 S Philwood Court Fuquay Varina, NC 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2013
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.86
    •  
  • 621 Hunters Ridge Drive Fuquay Varina, NC 3
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2013
    LEASED 03/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 413 Timber Meadow Lake Drive Fuquay Varina, NC 4
    • 3 beds 3 baths ∙ 1,826 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,826 Sqft ∙ Built 2007
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.86
    •  
  • 833 Willow Bay Drive Fuquay Varina, NC 5
    • 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 2006
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jon Pugeda
1.919.645.8074
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2353968
Last Updated: 11/20/2020
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