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111 Waterstone Lane Rolesville, NC 27571

3 Beds 3 Baths 2,248 sqft Built 1999

$275,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $122.33
  • 2 Days on Market
  • MLS # : 2351654
  • Updated Date : 11/02/2020 at 17:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,248 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Don't walk, RUN! This home will SELL FAST! Renovated 3BD/2.5BA home w/ oversized bonus rm, ready to move in! Stunning kit w/ almost new, black stainless steel apps incl double oven, lux fridge, built-in micro, 80/20 sink, large breakfast bar, granite. So many updates! Freshly painted areas, 2020 up HVAC, 2015 down HVAC, UV light air purifier, smart thermostats, all new flrs incl LVT, new lux carpet w/ plush pad, ceiling fans, the works! Priv corner lot w/ fenced yard. Nearby optional Swim & Athletic Club!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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

PRICE & RENT TRENDS

Neighborhood: Olde Towne

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $153k359k

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

Neighborhood: Olde Towne

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800Rent in $8991881

* 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
Sanford Creek Elementary School Primary Regular 697 45 4
Rolesville Middle School Middle Unknown 1,263 75 NA
Rolesville High School High Regular 1,200 69 NA

Sanford Creek Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 45
4
GreatSchools Rating

Rolesville Middle School

  • Education Level: Middle
  • # of students: 1,263
  • # of teachers: 75
NA
GreatSchools Rating

Rolesville High School

  • Education Level: High
  • # of students: 1,200
  • # of teachers: 69
NA
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,015
Property Tax -$209
Property Insurance -$71
Property Management Fees -$152
CASH FLOW
$243

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.

$275,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.8%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

9.75

YEARS SAVED

$45,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,725

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5953$1,6504$1,6755$1,690
$1,690
RENT COMPS ANALYSIS
  • 111 Waterstone Lane Rolesville, NC 5
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.75
    •  
  • 541 Ashgreen Court Rolesville, NC 1
    • 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 2007
    property image
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
  • 522 Virginia Water Drive Rolesville, NC 2
    • 3 beds 3 baths ∙ 2,126 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,126 Sqft ∙ Built 2006
    property image
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.75
    •  
  • 418 Shady Willow Lane Rolesville, NC 3
    • 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 2006
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
  • 652 Ashbrittle Drive Rolesville, NC 4
    • 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 2005
    property image
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.79
    •  
PROPERTY LISTING DETAILS
Marti Hampton
1.888.548.9134
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2351654
Last Updated: 11/02/2020
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