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112 Ellsworth Place Cary, NC 27511

3 Beds 2 Baths 1,250 sqft Built 1992

$289,900

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $231.92
  • 4 Days on Market
  • MLS # : 2372769
  • Updated Date : 03/19/2021 at 20:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,250 sqft
  • Baths : 2 full
Listing Agent

Dink Realty

Listing Agent's Description

Beautiful one-story home on a cul-de-sac lot with an open floor plan in the heart of Cary! 9'+, vaulted & smooth ceilings + skylights give this home a large & airy feel. Laminate flooring, stainless appliances, gas log fireplace, updated windows (2012), vinyl & brick siding + large deck overlooking a wooded back yard! Convenient location close to shopping, restaurants, Trader Joe's, Bond Brothers & Fortnight Breweries, Chatham Hill Winery, Bond Park & downtown Cary! Come quick, this one won't last long!

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: Sterling at Kildaire Farms

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $127k385k

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

Neighborhood: Sterling at Kildaire Farms

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600170018001900Rent in $8481978

* 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
Briarcliff Elementary School Primary Regular 626 44 7
Reedy Creek Middle School Middle Regular 829 52 3
Cary High School High Regular 2,396 135 7

Briarcliff Elementary School

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 44
7
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

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,007
Property Tax -$205
Property Insurance -$52
HOA -$15
Property Management Fees -$119
CASH FLOW
-$47

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

$1,350

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 7.0%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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

5.42

YEARS SAVED

$16,613

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,353

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4253$1,5254$1,5505$1,560
$1,560
RENT COMPS ANALYSIS
  • 112 Ellsworth Place Cary, NC 1
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.08
    •  
  • 902 Medlin Road Cary, NC 2
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1977
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.06
    •  
  • 121 Sterlingdaire Drive Cary, NC 3
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1991
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.05
    •  
  • 110 Ellsworth Place Cary, NC 4
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1992
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.11
    •  
  • 127 Bonnell Court Cary, NC 5
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1981
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.11
    •  
PROPERTY LISTING DETAILS
Neil Rowerdink
1.919.815.3334
Dink Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2372769
Last Updated: 03/19/2021
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