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105 Havencrest Landing Garner, NC 27529

3 Beds 2 Baths 1,247 sqft Built 2003

$205,000

List Price

$1,110

$999 - $1.2K

Rent Est.

PROPERTY INFO

December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $164.39
  • 5 Days on Market
  • MLS # : 2358094
  • Updated Date : 12/19/2020 at 15:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,247 sqft
  • Baths : 2 full
Listing Agent

Nest Realty Of The Triangle

Listing Agent's Description

We are excited to present this updated Ranch home to the market! It has been completely repainted inside & new LVP flooring & carpet has been installed. Highlighted by an open family room with vaulted ceilings & a gas fireplace, a kitchen w/ 42 inch cabinets & stainless steel appliances, & a master with a large walk-in closet. Located only minutes to downtown Raleigh and close to I-70 and Route 40 makes commuting a breeze. Check out the large deck outback & the walk in crawl space, perfect for storage.

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: Weston Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k265k

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

Neighborhood: Weston Ridge

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7591595

* 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
Creech Road Elementary School Primary Regular 613 42 2
North Garner Middle School Middle Regular 948 59 3
Garner High School High Magnet 2,650 145 3

Creech Road Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 42
2
GreatSchools Rating

North Garner Middle School

  • Education Level: Middle
  • # of students: 948
  • # of teachers: 59
3
GreatSchools Rating

Garner High School

  • Education Level: High
  • # of students: 2,650
  • # of teachers: 145
3
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$999$1,221$1,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,110
EXPENSES Loan Payment -$756
Property Tax -$168
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$15

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.

$205,000

PROJECTED PRICE

$1,110

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$17,022

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,110

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,119

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,110
1$1,1102$1,1753$1,2254$1,2505$1,295
$1,295
RENT COMPS ANALYSIS
  • 105 Havencrest Landing Garner, NC 1
    • 3 beds 2 baths ∙ 1,247 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,247 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,110
    • $0.89
    •  
  • 128 Villavista Trace Garner, NC 2
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 2002
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.89
    •  
  • 129 Creek Commons Avenue Garner, NC 3
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 2007
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.90
    •  
  • 3413 Fatima Court Raleigh, NC 4
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2006
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
  • 904 Roxy Street Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2006
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.87
    •  
PROPERTY LISTING DETAILS
Benjamin Passwaters
1.919.608.4226
Nest Realty Of The Triangle
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2358094
Last Updated: 12/19/2020
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