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10505 Carsons Creek Drive Zebulon, NC 27597

4 Beds 3 Baths 1,867 sqft Built 2017

$250,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $133.90
  • 3 Days on Market
  • MLS # : 2357569
  • Updated Date : 12/12/2020 at 21:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,867 sqft
  • Baths : 2 full , 1 half
Listing Agent

Parrish Realty Company Of Zebulon

Listing Agent's Description

Beautiful Custom built home on a large wooded cul de sac lot. Amazing entry with archways. Great open floor plan, home features granite counter tops, tile back splash, Designer cabinets. Large master bedroom, master bath has a garden tub and separate shower. Enjoy your evenings on your back deck overlooking your peaceful backyard.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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: Carsons Creek

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $80k318k

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

Neighborhood: Carsons Creek

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
Zebulon Elementary School Primary Magnet 539 42 3
Zebulon Middle School Middle Magnet 556 42 3
East Wake High School High Regular NA

Zebulon Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 42
3
GreatSchools Rating

Zebulon Middle School

  • Education Level: Middle
  • # of students: 556
  • # of teachers: 42
3
GreatSchools Rating

East Wake High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$922
Property Tax -$237
Property Insurance -$64
HOA -$11
Property Management Fees -$119
CASH FLOW
$127

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.

$250,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.6%
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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$31,386

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,475

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,445
1$1,4452$1,4753$1,4804$1,545
$1,545
RENT COMPS ANALYSIS
  • 10505 Carsons Creek Drive Zebulon, NC 3
    • 4 beds 3 baths ∙ 1,867 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,867 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.79
    •  
  • 708 Kenyon Spring Drive Zebulon, NC 1
    • 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 2019
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.80
    •  
  • 728 Kenyon Spring Drive Zebulon, NC 2
    • 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 2019
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.82
    •  
  • 1302 Pearces Road Zebulon, NC 4
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2005
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.75
    •  
PROPERTY LISTING DETAILS
Ginger Dutmers
1.919.604.1551
Parrish Realty Company Of Zebulon
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2357569
Last Updated: 12/12/2020
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