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108 Holly Bay Lane Holly Springs, NC 27540

3 Beds 3 Baths 1,837 sqft Built 1999

$300,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $163.31
  • 3 Days on Market
  • MLS # : 2369004
  • Updated Date : 02/27/2021 at 23:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,837 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Legacy

Listing Agent's Description

You will fall in love w/this beautiful home as soon as you pull into the driveway! Welcome Home to this cozy, well-maintained 3 bed, 2.5 bath home on a quiet cul-de-sac in a neighborhood w/no HOA. An abundance of natural light shines through every room. Separate office space. Spacious Owners Suite w/soaring ceilings leads into a generously sized en suite bathroom & closet. Generously sized secondary bedrooms. Enjoy time outside on your large deck overlooking private & fully fenced backyard!

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: Spring Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380kPrice in $153k400k

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

Neighborhood: Spring Meadow

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800Rent in $10021873

* 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
Holly Ridge Elementary School Primary Regular 803 50 6
Holly Ridge Middle School Middle Regular 1,222 69 4
Holly Springs High School High Regular 2,418 122 7

Holly Ridge Elementary School

  • Education Level: Primary
  • # of students: 803
  • # of teachers: 50
6
GreatSchools Rating

Holly Ridge Middle School

  • Education Level: Middle
  • # of students: 1,222
  • # of teachers: 69
4
GreatSchools Rating

Holly Springs High School

  • Education Level: High
  • # of students: 2,418
  • # of teachers: 122
7
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,042
Property Tax -$227
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$139

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.

$300,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.3%
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$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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$34,907

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,731

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,8503$1,8954$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 108 Holly Bay Lane Holly Springs, NC 1
    • 3 beds 3 baths ∙ 1,837 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,837 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.87
    •  
  • 401 Daisy Grove Lane Holly Springs, NC 2
    • 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2018
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 405 Old Ride Drive Holly Springs, NC 3
    • 4 beds 3 baths ∙ 2,109 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,109 Sqft ∙ Built 2019
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.90
    •  
  • 405 St Kitts Court Holly Springs, NC 4
    • 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1994
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 312 Daisy Grove Lane Holly Springs, NC 5
    • 4 beds 3 baths ∙ 2,109 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,109 Sqft ∙ Built 2019
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
PROPERTY LISTING DETAILS
Lauren Fours
1.919.414.0950
Keller Williams Legacy
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2369004
Last Updated: 02/27/2021
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