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113 Wood Hollow Drive Cary, NC 27513

3 Beds 3 Baths 1,539 sqft Built 1990

INVESTimate

$285,900

List Price

$1,480

$1,332 - $1,628

Rent Est.

$299,995  ( +4.93%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $185.77
  • 8 Days on Market
  • MLS # : 2337960
  • Updated Date : 08/25/2020 at 20:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,539 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Preferred Realty

Listing Agent's Description

Coming Soon!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Holloway

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380kPrice in $153k385k

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

Neighborhood: Holloway

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21000110012001300140015001600170018001900Rent in $9121978

* 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
 

$257,310$314,490$285,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,055
Property Tax -$227
Property Insurance -$57
Property Management Fees -$133
CASH FLOW
$8

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.

$285,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.93%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,514

INVESTMENT

$81,514

Down Payment
$71,475
Rehab Estimate
$5,750
Closing Costs
$4,289

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,055

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,475
Loan Amount $214,425
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$20,175

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,508

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4803$1,4954$1,5955$1,800
$1,800
RENT COMPS ANALYSIS
  • 113 Wood Hollow Drive Cary, 2
    • 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.96
    •  
  • 310 Trappers Run Cary, 1
    • 3 beds 3 baths ∙ 1,460 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,460 Sqft ∙ Built 1984
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.96
    •  
  • 327 Trappers Run Cary, 3
    • 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 1984
    LEASED 04/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 110 Laurel Branch Drive Cary, 4
    • 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 1994
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 105 Wood Hollow Drive Cary, 5
    • 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 1987
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
PROPERTY LISTING DETAILS
Chris Barr
1.919.971.4379
Keller Williams Preferred Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2337960
Last Updated: 08/25/2020
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