Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

115 Victoria Hills Drive Fuquay Varina, NC 27526

3 Beds 2 Baths 1,439 sqft Built 2003

$228,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $158.44
  • 4 Days on Market
  • MLS # : 2359605
  • Updated Date : 12/31/2020 at 19:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,439 sqft
  • Baths : 2 full
Listing Agent

Secu*re Inc.

Listing Agent's Description

Don't Miss OUT! This cozy home features 3 beds, 2 baths, stainless steel appliances in kitchen, the perfect front porch for rocking chairs, perfect back deck for grilling, and cute back yard for entertaining. The living room is inviting with a fireplace. The property is located on the outskirts of Fuquay which has so much to offer with fun restaurants and shops. Location is everything. This property is less than 40 minutes to Raleigh, NC and 20 minutes to Campbell University.

SEE MORE

MARKET HIGHLIGHTS

  • #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
  • 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: Victoria Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $133k359k

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

Neighborhood: Victoria Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800Rent in $8941873

* 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
Lafayette Elementary School Primary Regular 712 41 7
Harnett Central Middle School Middle Regular 1,197 77 3
Harnett Central High School High Regular 1,541 88 3

Lafayette Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 41
7
GreatSchools Rating

Harnett Central Middle School

  • Education Level: Middle
  • # of students: 1,197
  • # of teachers: 77
3
GreatSchools Rating

Harnett Central High School

  • Education Level: High
  • # of students: 1,541
  • # of teachers: 88
3
GreatSchools Rating
 

$205,200$250,800$228,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$841
Property Tax -$147
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$298

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.

$228,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 6.6%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$66,170

INVESTMENT

$66,170

Down Payment
$57,000
Rehab Estimate
$5,750
Closing Costs
$3,420

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,000
Loan Amount $171,000
See What Happens When You Reinvest Cash Flow

12.67

YEARS SAVED

$53,106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,489

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,460
$1,460
RENT COMPS ANALYSIS
  • 115 Victoria Hills Drive Fuquay Varina, NC 3
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.01
    •  
  • 510 Mineral Spring Lane Fuquay Varina, NC 1
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2019
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.00
    •  
  • 60 Blairwood Drive Fuquay Varina, NC 2
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2001
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
PROPERTY LISTING DETAILS
Logan Hawley
1.910.892.0434
Secu*re Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2359605
Last Updated: 12/31/2020
BESbswy