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113 Shad Boat Lane Clayton, NC 27520

3 Beds 3 Baths 1,543 sqft Built 2009

$215,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $139.34
  • 3 Days on Market
  • MLS # : 2373113
  • Updated Date : 03/20/2021 at 01:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,543 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Coming Soon

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: Lionsgate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k265k

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

Neighborhood: Lionsgate

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500Rent in $8231595

* 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
West Clayton Elementary School Primary Regular 902 58 6
Clayton Middle School Middle Regular 793 49 4
Clayton High School High Regular 1,512 85 5

West Clayton Elementary School

  • Education Level: Primary
  • # of students: 902
  • # of teachers: 58
6
GreatSchools Rating

Clayton Middle School

  • Education Level: Middle
  • # of students: 793
  • # of teachers: 49
4
GreatSchools Rating

Clayton High School

  • Education Level: High
  • # of students: 1,512
  • # of teachers: 85
5
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$747
Property Tax -$221
Property Insurance -$57
HOA -$111
Property Management Fees -$119
CASH FLOW
$135

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.

$215,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 3.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$23,399

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,412

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4503$1,4504$1,5005$1,625
$1,625
RENT COMPS ANALYSIS
  • 113 Shad Boat Lane Clayton, NC 1
    • 3 beds 3 baths ∙ 1,543 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,543 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.90
    •  
  • 109 Walnut Creek Drive Clayton, NC 2
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1996
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 134 W Lumber Street Clayton, NC 3
    • 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 2019
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 279 Tuscarora Lane Clayton, NC 4
    • 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 2006
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 236 Verrazano Place Clayton, NC 5
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2014
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.93
    •  
PROPERTY LISTING DETAILS
Renee Hillman
1.919.868.4383
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2373113
Last Updated: 03/20/2021
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