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1141 Woodbrook Way Garner, NC 27529

3 Beds 3 Baths 1,719 sqft Built 1985

$250,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $145.43
  • 3 Days on Market
  • MLS # : 2369034
  • Updated Date : 02/26/2021 at 23:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,719 sqft
  • Baths : 2 full , 1 half
Listing Agent

Be Home Realty

Listing Agent's Description

Love the thought of mountain life but want the convenience of amenities of the city? Welcome home to the "HIDEAWAY IN THE WOODS". Create your own zipline through the trees, make smores over an open fire any night of the week in the stone firepit. Such a great location/3 bed/2.5 ba/formal dining or office/eat-in kitchen/screened porch w oversized deck/picket fenced area

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: Woodbrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $129k359k

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

Neighborhood: Woodbrook Estates

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800Rent in $8681873

* 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
Aversboro Elementary School Primary Regular 584 42 3
East Garner Middle School Middle Magnet 1,361 83 4
South Garner High School High Regular NA

Aversboro Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 42
3
GreatSchools Rating

East Garner Middle School

  • Education Level: Middle
  • # of students: 1,361
  • # of teachers: 83
4
GreatSchools Rating

South Garner High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$868
Property Tax -$211
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$51

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.

$250,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.9%
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$100k$200k$300k$400k$500k$600k$700k$800k

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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$22,431

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,341

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,4953$1,575
$1,575
RENT COMPS ANALYSIS
  • 1141 Woodbrook Way Garner, NC 1
    • 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.76
    •  
  • 701 Arbor Greene Drive Garner, NC 2
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2000
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
  • 1301 Red Brick Road Garner, NC 3
    • 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 2001
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.77
    •  
PROPERTY LISTING DETAILS
Jane Ball
1.919.422.6375
Be Home Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2369034
Last Updated: 02/26/2021
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