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108 Barcelona Court Cary, NC 27513

3 Beds 2 Baths 1,267 sqft Built 1992

$289,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $228.81
  • 4 Days on Market
  • MLS # : 2363735
  • Updated Date : 01/29/2021 at 15:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,267 sqft
  • Baths : 2 full
Listing Agent

Allen Tate/raleigh-glenwood

Listing Agent's Description

Wonderful Cary ranch home! Featuring spacious family room with soaring cathedral ceiling and fireplace. Updated kitchen with granite counters and SS appliances. Beautiful HW floors, updated light fixtures throughout and updated baths. Rear deck overlooking the roomy backyard complete with storage shed. New Central heat and air in 2019. Amazing location just minutes from restaurants, grocery, shopping and more. You have to see in person to appreciate the finishes and updates in this one!

SEE MORE

MARKET HIGHLIGHTS

  • #7 Best Big City for Jobs 2018 (Forbes, 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
  • 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: Dutchess Village

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380kPrice in $150k385k

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

Neighborhood: Dutchess Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21000110012001300140015001600170018001900Rent in $9241978

* 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
Weatherstone Elementary School Primary Regular 910 54 8
Reedy Creek Middle School Middle Regular 829 52 3
Cary High School High Regular 2,396 135 7

Weatherstone Elementary School

  • Education Level: Primary
  • # of students: 910
  • # of teachers: 54
8
GreatSchools Rating

Reedy Creek Middle School

  • Education Level: Middle
  • # of students: 829
  • # of teachers: 52
3
GreatSchools Rating

Cary High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 135
7
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,007
Property Tax -$196
Property Insurance -$52
HOA -$15
Property Management Fees -$119
CASH FLOW
$12

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.

$289,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$21,877

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,229

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4003$1,4504$1,4755$1,545
$1,545
RENT COMPS ANALYSIS
  • 108 Barcelona Court Cary, NC 2
    • 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.10
    •  
  • 701 Middleton Avenue Cary, NC 1
    • 4 beds 2 baths ∙ 1,352 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,352 Sqft ∙ Built 1984
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.96
    •  
  • 901 Medlin Road Cary, NC 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 901 Medlin Drive Cary, NC 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.98
    •  
  • 821 Gayle Circle Cary, NC 5
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1976
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.97
    •  
PROPERTY LISTING DETAILS
Graham Dixon
1.919.802.2350
Allen Tate/raleigh-glenwood
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2363735
Last Updated: 01/29/2021
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