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110 Fairmeadow Way Greenville, SC 29617

3 Beds 2 Baths - sqft Built 2018

$245,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $155.46
  • 5 Days on Market
  • MLS # : 1432743
  • Updated Date : 12/03/2020 at 16:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent

Bhhs C Dan Joyner - N. Pleas

Listing Agent's Description

SPECTACULAR NEWER CONSTRUCTION AND ENERGY EFFICIENT !! All on one level with stunning mountain views. 110 Fairmeadow Way is located near Furman in the community of Annandale Estates. This is a maintenance free community with lawn care and irrigation included in the monthly HOA fee of $130. This house is move in ready. The carpet has been professionally cleaned. There is luxury vinyl flooring in the main living areas and cermic tile flooring in the laundry room and bathrooms. The kitchen has beautiful grey granite counter tops and stainless appliance package. The floorplan is open and bright. The wide doorways are an added bonus with lever door handles. Just off of the kitchen is a huge patio overlooking a sodded privacy fenced back yard with mountain views of Paris Mountain. This spectacular location is just minutes to the Swamp Rabbit Trail and only approximately 15 minutes from Downtown Greenville and 10 minutes to the vibrant downtown of Travelers Rest. This house has natural gas heat and a tankless gas water heater for efficiency. This is a gorgeous house house with stunning curb appeal with a stone and shake facade. This is a must see property for the serious buyer.

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PRICE & RENT TRENDS

Zip Code: 29617

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180kPrice in $59k190k

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

Zip Code: 29617

ZipNIR Market*CityMarket2010Year20002019 Q275080085090095010001050110011501200125013001350Rent in $7381383

* 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
Armstrong Elementary School Primary Regular 425 30 4
Berea Middle School Middle Regular 676 45 3
Berea High School High Regular 1,091 66 5

Armstrong Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 30
4
GreatSchools Rating

Berea Middle School

  • Education Level: Middle
  • # of students: 676
  • # of teachers: 45
3
GreatSchools Rating

Berea High School

  • Education Level: High
  • # of students: 1,091
  • # of teachers: 66
5
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$904
Property Tax -$422
Property Insurance -$56
Property Management Fees -$122
CASH FLOW
$17

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$245,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.48%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$11,261

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,539

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4953$1,5204$1,595
$1,595
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 110 Fairmeadow Way Greenville, SC 3
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.96
    •  
  • 25 Watkins Bridge Road Greenville, SC 1
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 3 beds 2 baths ∙ 1,431 Sqft ∙ Built
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.94
    •  
  • 16 Maplestead Farms Court Greenville, SC 2
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 3 beds 3 baths ∙ 1,440 Sqft ∙ Built
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
  • 603 Maplestead Farms Court Greenville, SC 4
    • 4 beds 3 baths ∙ 1,680 Sqft ∙ Built 4 beds 3 baths ∙ 1,680 Sqft ∙ Built
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
PROPERTY LISTING DETAILS
Robbie Haney
1.864.270.4192
Bhhs C Dan Joyner - N. Pleas
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1432743
Last Updated: 12/03/2020
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