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12 Kings Canyon Court Clayton, NC 27527

3 Beds 2 Baths 1,577 sqft Built 2010

$245,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $155.36
  • 5 Days on Market
  • MLS # : 2351369
  • Updated Date : 11/01/2020 at 17:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,577 sqft
  • Baths : 2 full
Listing Agent

Bullock Realty, Llc

Listing Agent's Description

Step into this BEAUTIFUL ONE-STORY home and you will feel the LOVE and WARMTH! You'll Love the Living room with the OPEN FLOOR, relaxing DECK, and the Kitchen's gorgeous BAY WINDOW bringing in the NATURAL LIGHTING from the beautiful backyard. Enjoy the COZY KITCHEN with the stainless steel appliances and GAS STOVE. Just off from the kitchen is an OFFICE. The Master Bedroom has a unique lighted ACCENT WALL and large WALK-IN CLOSET. Home is wired for SURROUND SOUND and a MEDIA CLOSET! WELCOME HOME!

SEE MORE

MARKET HIGHLIGHTS

  • 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

Neighborhood: Sierrs Heights

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k265k

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

Neighborhood: Sierrs Heights

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
Powhatan Elementary School Primary Regular 565 35 6
Riverwood Middle School Middle Regular 1,149 64 7
Clayton High School High Regular 1,512 85 5

Powhatan Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 35
6
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,149
  • # of teachers: 64
7
GreatSchools Rating

Clayton High School

  • Education Level: High
  • # of students: 1,512
  • # of teachers: 85
5
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$904
Property Tax -$155
Property Insurance -$58
HOA -$9
Property Management Fees -$115
CASH FLOW
$39

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.

$245,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 3.6%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$18,254

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,214

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,280
1$1,2802$1,450
$1,450
RENT COMPS ANALYSIS
  • 12 Kings Canyon Court Clayton, NC 1
    • 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.81
    •  
  • 139 Woodglen Drive Clayton, NC 2
    • 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 2008
    property image
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
PROPERTY LISTING DETAILS
Felisa Bullock
1.252.399.9277
Bullock Realty, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2351369
Last Updated: 11/01/2020
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