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116 Meadow Run Clayton, NC 27520

4 Beds 3 Baths 2,204 sqft Built 1995

$270,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $122.50
  • 2 Days on Market
  • MLS # : 2363121
  • Updated Date : 01/23/2021 at 20:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,204 sqft
  • Baths : 2 full , 1 half
Listing Agent

Grow Local Realty Llc

Listing Agent's Description

"She's got Gumption" This 4 Bedroom Beauty is nestled near the heart of Clayton! Over 2200 sq ft & situated on .32 acres. NO HOA FEES! New Roof, New Capet/paint, and looking for a new owner. Large deck overlooking a beautifully landscaped/private back yard! 1st floor main Bedroom w/private entrance from the backyard, Garden tub, and separate shower. 2 car garage, cathedral ceilings, & spacious bedrooms! Close to everything! Easy access to I40, HWY 70, & 42. Lets go HOME!

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

PRICE & RENT TRENDS

Neighborhood: Ellington

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k265k

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

Neighborhood: Ellington

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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$938
Property Tax -$277
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$276

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.

$270,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$42,684

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,647

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,4503$1,4754$1,4955$1,680
$1,680
RENT COMPS ANALYSIS
  • 116 Meadow Run Clayton, NC 5
    • 4 beds 3 baths ∙ 2,204 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,204 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.76
    •  
  • 88 Averasboro Drive Clayton, NC 1
    • 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 2007
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.70
    •  
  • 103 Locket Drive Clayton, NC 2
    • 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 2009
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.72
    •  
  • 39 Tuscarora Lane Clayton, NC 3
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2005
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.78
    •  
  • 203 Verrazano Place Clayton, NC 4
    • 4 beds 3 baths ∙ 1,890 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,890 Sqft ∙ Built 2014
    property image
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
PROPERTY LISTING DETAILS
Laura Deitsch
1.919.355.6869
Grow Local Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2363121
Last Updated: 01/23/2021
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