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107 Covey Run Lyman, SC 29365

3 Beds 2 Baths - sqft Built 1997

$195,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $134.30
  • 3 Days on Market
  • MLS # : 1431283
  • Updated Date : 11/06/2020 at 23:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent

Keller Williams Grv Upst

Listing Agent's Description

I HAVE FOUND YOUR NEW HOME!!! It's an Adorable 3 bedroom 2 bath Ranch NO HOA and only minutes from downtown Greer! There’s nothing about this home that you won’t love, especially the amazing front and back yards! As you walk in the front door, imagine quiet evenings in Living room enjoying the fireplace. The laminate flooring through most of the home gives a warm, clean feel. The kitchen has lots of prep space for meals with built-in pantry and extra storage space in laundry closet. Sunroom is just off the kitchen. Though it's not currently heated, it's a great spot to recline and enjoy the partially fenced private grounds. The master suite presents well and offers a walk-in closet and full bath. The garage is oversized and the long driveway allows for ample parking plus the cul-de-sac for overflow parking.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 29365

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180kPrice in $58k183k

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

Zip Code: 29365

ZipNIR Market*CityMarket2010Year20002019 Q26507007508008509009501000105011001150120012501300Rent in $6031313

* 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
Crestview Elementary School Primary Regular 644 37 6
Greer Middle School Middle Regular 957 57 6
Greer High School High Regular 1,172 61 6

Crestview Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 37
6
GreatSchools Rating

Greer Middle School

  • Education Level: Middle
  • # of students: 957
  • # of teachers: 57
6
GreatSchools Rating

Greer High School

  • Education Level: High
  • # of students: 1,172
  • # of teachers: 61
6
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$719
Property Tax -$271
Property Insurance -$54
Property Management Fees -$102
CASH FLOW
$134

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.

$195,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.52%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.90%
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$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$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$21,119

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,287

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2503$1,2804$1,350
$1,350
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 107 Covey Run Lyman, SC 3
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.88
    •  
  • 13 Arlington Road Greer, SC 1
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 3 beds 2 baths ∙ 1,344 Sqft ∙ Built
    LEASED 05/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
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  • 1027 Hwy 357 Greer, SC 2
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 3 beds 2 baths ∙ 1,524 Sqft ∙ Built
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.82
    •  
  • 1959 Gap Creek Road Greer, SC 4
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 3 beds 2 baths ∙ 1,490 Sqft ∙ Built
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
PROPERTY LISTING DETAILS
Danielle Scott
1.864.616.0958
Keller Williams Grv Upst
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1431283
Last Updated: 11/06/2020
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