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107 Roan Drive Garner, NC 27529

4 Beds 3 Baths 1,841 sqft Built 2001

$299,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $162.41
  • 1 Days on Market
  • MLS # : 2395313
  • Updated Date : 07/13/2021 at 14:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,841 sqft
  • Baths : 2 full , 1 half
Listing Agent

Market Leader Realty, Llc.

Listing Agent's Description

WELCOME to this BEAUTIFUL HOME in Vandora Springs! 4BD/3BA CORNER LOT! FOYER w/Cathedral Ceilings! OPEN Floor Plan, Fireplace w/GAS LOGS in Living Room, Eat In Kitchen, PANTRY, separate DINING ROOM with WAINSCOTING! Master Suite DOWNSTAIRS with Separate Shower/Tub, DOUBLE VANITY, SPACIOUS Walk In Closet! NEW LVP Floors, NEW Kitchen GRANITE COUNTERTOPS, NEW APPLIANCES, NEW ROOF, DECK Updated, NEST Thermostat! Walk In Floored Attic, Detached Shed! FENCED IN Backyard! LARGE ATTACHED 2 Car GARAGE!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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

PRICE & RENT TRENDS

Neighborhood: Vandora Pines

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260k270kPrice in $132k273k

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

Neighborhood: Vandora Pines

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700Rent in $9461769

* 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
Vandora Springs Elementary School Primary Regular 572 43 4
North Garner Middle School Middle Regular 948 59 3
Garner High School High Magnet 2,650 145 3

Vandora Springs Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 43
4
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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,039
Property Tax -$239
Property Insurance -$63
HOA -$17
Property Management Fees -$119
CASH FLOW
$243

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.

$299,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.9%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$41,677

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,694

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7203$1,7504$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 107 Roan Drive Garner, NC 2
    • 4 beds 3 baths ∙ 1,841 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,841 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.93
    •  
  • 600 Poplar Springs Church Road Raleigh, NC 1
    • 4 beds 3 baths ∙ 1,789 Sqft ∙ Built 1981 4 beds 3 baths ∙ 1,789 Sqft ∙ Built 1981
    property image
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 1320 Cane Creek Drive Garner, NC 3
    • 3 beds 3 baths ∙ 1,932 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,932 Sqft ∙ Built 1998
    property image
    LEASED 04/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 2308 Water Lilly Way Garner, NC 4
    • 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 1997
    property image
    LEASED 05/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 2316 Water Lilly Way Garner, NC 5
    • 4 beds 3 baths ∙ 1,845 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,845 Sqft ∙ Built 1997
    property image
    LEASED 06/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Michelle Stewart
1.252.406.4479
Market Leader Realty, Llc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2395313
Last Updated: 07/13/2021
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