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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $118.39
- 3 Days on Market
- MLS # : 2359700
- Updated Date : 01/02/2021 at 14:24
CONSTRUCTION
- Beds : 4
- Floor Size : 2,604 sqft
- Baths : 3 full
Listing Agent
Adams Homes Realty, Inc
Listing Agent's Description
Lovely ranch home with an upstairs bed and rec-room in the new Jewel Acres subdivision. Be one of the first while the prices are still low! Lots of upgrades including gourmet stainless steel appliances, granite counter tops, Revwood laminate floors and large spacious backyard! Home to be completed April/May Photos are only representation
SEE MORE
- #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
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 | $1,960 |
| EXPENSES | Loan Payment | -$1,137 |
| Property Tax | -$195 | |
| Property Insurance | -$78 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$430
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.
$308,300
PROJECTED PRICE
$1,960
PROJECTED RENT
0.64%
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) | 3.00% |
| 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
$83,700
LOAN DETAILS
$1,137
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $77,075 |
| Loan Amount | $231,225 |
13.25
YEARS SAVED
$77,188
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,960
LIST RENT -
$0.75
LIST RENT PER SQFT
-
$1,953
COMP ESTIMATED VALUE -
$0.75
COMP AVG. RENT PER SQFT
Comps Range
-
120 Bushel Basket Drive Benson, NC 2
- 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 2021
- Rent
- Rent Per SQFT
- $1,960
- $0.75
-
201 Lakeshore Drive Benson, NC 1
- 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2017
LEASED 02/06/20- Rent
- Rent Per SQFT
- $1,875
- $0.75
PROPERTY LISTING DETAILS
1.919.525.8805
Adams Homes Realty, Inc
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2359700
Last Updated: 01/02/2021
