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107 Morton Avenue Simpsonville, SC 29681

4 Beds 2 Baths - sqft Built 2021

$199,900

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $114.10
  • 5 Days on Market
  • MLS # : 1434057
  • Updated Date : 12/23/2020 at 15:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent

Keller Williams Greenville Cen

Listing Agent's Description

To Be Built: Affordable new construction 4 bedroom 2 bath home in convenient Simpsonville location Exterior includes composition shingles, vinyl siding with insulated vinyl windows, front porch and rear patio. Interior includes open and split floor plan, vaulted ceiling, trey ceiling with crown molding, chair rail and shadow boxing in dining area, arch top interior doors and cased windows, Master bath with garden tub and separate shower and double vanities, soft close cabinetry with laminate counters, brushed nickel fixtures and hardware, carpet in living room and bedrooms and vinyl flooring in the kitchen/dining, laundry and bath. Upgrades are available. This home breaks ground 1/15/2021. It will not be complete until end of June 2021.

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PRICE & RENT TRENDS

Zip Code: 29681

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k259k

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

Zip Code: 29681

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9171760

* 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
Simpsonville Elementary School Primary Regular 787 43 7
Hillcrest Middle School Middle Regular 1,001 55 8
Hillcrest High School High Regular 2,106 103 6

Simpsonville Elementary School

  • Education Level: Primary
  • # of students: 787
  • # of teachers: 43
7
GreatSchools Rating

Hillcrest Middle School

  • Education Level: Middle
  • # of students: 1,001
  • # of teachers: 55
8
GreatSchools Rating

Hillcrest High School

  • Education Level: High
  • # of students: 2,106
  • # of teachers: 103
6
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$738
Property Tax -$267
Property Insurance -$59
Property Management Fees -$96
CASH FLOW
$40

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$199,900

PROJECTED PRICE

$1,200

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.12%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

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$54,974

INVESTMENT

$54,974

Down Payment
$49,975
Rehab Estimate
$2,000
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$13,686

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,402

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2003$1,3754$1,395
$1,395
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 107 Morton Avenue Simpsonville, SC 2
    • 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.68
    •  
  • 207 Cornerstone Court Simpsonville, SC 1
    • 4 beds 3 baths ∙ 1,716 Sqft ∙ Built 4 beds 3 baths ∙ 1,716 Sqft ∙ Built
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.70
    •  
  • 111 Goldrush Court Simpsonville, SC 3
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 3 beds 2 baths ∙ 1,713 Sqft ∙ Built
    property image
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.80
    •  
  • 12 Avalon Court Simpsonville, SC 4
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 3 beds 2 baths ∙ 1,555 Sqft ∙ Built
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
PROPERTY LISTING DETAILS
Tracy Roberts
1.864.412.6225
Keller Williams Greenville Cen
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1434057
Last Updated: 12/23/2020
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