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PROPERTY INFO
FACTS
- Single Family
- Built In 2018
- Price/Sqft : $161.78
- 2 Days on Market
- MLS # : 2365422
- Updated Date : 02/06/2021 at 23:01
CONSTRUCTION
- Beds : 3
- Floor Size : 1,638 sqft
- Baths : 2 full
Listing Agent
Hometowne Realty
Listing Agent's Description
***ALL OFFERS to be SUBMITTED BY 2/7 6pm*** Desirable one-story living on picturesque, private homesite. Beautiful finishes & attention to detail throughout! Inviting entryway. High ceiling & corner gas-log fireplace in Family Room. Chefs Kitchen w/ granite counters, tile backsplash, under cabinet lighting, ss french door fridge. Bright eat-in! Master enSuite w/ tray ceiling, dual vanities, separate shower & garden tub. Large bedrooms. HUGE covered deck overlooks wooded, fenced backyard. 3 car garage.
SEE MORE
- 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
Zip Code: 27504
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 27504
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,430 |
| EXPENSES | Loan Payment | -$920 |
| Property Tax | -$168 | |
| Property Insurance | -$59 | |
| HOA | -$12 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$152
|
||
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.
$265,000
PROJECTED PRICE
$1,430
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 4.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.47% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$75,975
LOAN DETAILS
$920
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $66,250 |
| Loan Amount | $198,750 |
8.67
YEARS SAVED
$31,090
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,430
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$1,572
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
-
115 Tarpon Drive Benson, NC 2
- 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 2018
- Rent
- Rent Per SQFT
- $1,430
- $0.87
-
156 Gordon Farm Drive Benson, NC 1
- 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2001
LEASED 03/01/20- Rent
- Rent Per SQFT
- $1,350
- $0.96
PROPERTY LISTING DETAILS
1.919.763.7887
Hometowne Realty
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2365422
Last Updated: 02/06/2021
