Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

108 Upton Court Garner, NC 27529

3 Beds 3 Baths 1,822 sqft Built 1977

$274,900

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $150.88
  • 2 Days on Market
  • MLS # : 2371925
  • Updated Date : 03/13/2021 at 14:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,822 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Raleigh

Listing Agent's Description

Move-in Ready, beautifully renovated home situated on a quiet cul-de-sac yet bustling with activity proximity. This home exudes modern living and features updated kitchen and baths, open floor plan, beautiful flooring, newer roof, bonus living room/den, plus flex space for a home office, kids room, etc! Enjoy the back deck overlooking a large, fenced backyard, perfect for entertainment! Convenient to White Oak Shopping Center, Restaurants, DT Raleigh, NC-State, Walnut Creek, I-40, parks and nature trails!

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • #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)

PRICE & RENT TRENDS

Neighborhood: Heather Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $120k265k

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

Neighborhood: Heather Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900950100010501100115012001250130013501400145015001550Rent in $8981595

* 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
Timber Drive Elementary School Primary Unknown NA
East Garner Middle School Middle Magnet 1,361 83 4
Garner High School High Magnet 2,650 145 3

Timber Drive Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

East Garner Middle School

  • Education Level: Middle
  • # of students: 1,361
  • # of teachers: 83
4
GreatSchools Rating

Garner High School

  • Education Level: High
  • # of students: 2,650
  • # of teachers: 145
3
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$955
Property Tax -$225
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$218

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.

$274,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.3%
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$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$37,766

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,658

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4253$1,5804$1,6005$1,795
$1,795
RENT COMPS ANALYSIS
  • 108 Upton Court Garner, NC 3
    • 3 beds 3 baths ∙ 1,822 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,822 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.87
    •  
  • 1504 Burchcrest Drive Garner, NC 1
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1994
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
  • 1306 Timber Drive Garner, NC 2
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1977
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.92
    •  
  • 1207 Silverhill Court Garner, NC 4
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1988
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 707 Springview Trail Garner, NC 5
    • 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 1974
    property image
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
PROPERTY LISTING DETAILS
Charlotte Davenport
1.919.818.2444
Realty Raleigh
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2371925
Last Updated: 03/13/2021
BESbswy