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120 Shakespeare Drive Clayton, NC 27520

3 Beds 3 Baths 1,584 sqft Built 2020

$231,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

90% chance this property will be sold within the next 10 days HOT INVESTMENT
Built 2020 NEW CONSTRUCTION
November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $146.40
  • 7 Days on Market
  • MLS # : 2352895
  • Updated Date : 11/11/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,584 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hometowne Realty

Listing Agent's Description

Gorgeous Snedeker floor plan in downtown Clayton's Academy Pointe community! Step into the foyer w/ mud bench & into the huge family room w/ cozy fireplace. Kitchen features beautiful cabinets, granite countertops & SS appliances. Texas pantry utility room w/ built in desk/home office & storage shelves. Master Suite w/ fan, walk in closet & 5ft shower. Two additional spacious bedrooms upstairs, each w/ WIC. Enjoy your maintenance free yard plus pools, gyms & golf w/ your FSC Membership!

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)
  • 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
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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: Neuse

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k265k

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

Neighborhood: Neuse

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7651595

* 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
Cooper Academy Primary Regular 593 45 2
Riverwood Middle School Middle Regular 1,149 64 7
Clayton High School High Regular 1,512 85 5

Cooper Academy

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 45
2
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
 

$208,710$255,090$231,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$856
Property Tax -$238
Property Insurance -$58
HOA -$99
Property Management Fees -$140
CASH FLOW
$160

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.

$231,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 3.00%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$63,454

INVESTMENT

$63,454

Down Payment
$57,975
Rehab Estimate
$2,000
Closing Costs
$3,479

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$856

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,975
Loan Amount $173,925
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$29,706

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,485

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3953$1,4954$1,5505$1,700
$1,700
RENT COMPS ANALYSIS
  • 120 Shakespeare Drive Clayton, NC 4
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 198 Balboa Parkway Clayton, NC 1
    • 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 2015
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.85
    •  
  • 16 Manito Place Clayton, NC 2
    • 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2017
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
  • 128 Balboa Parkway Clayton, NC 3
    • 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2017
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 104 Parkview Drive Clayton, NC 5
    • 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 2016
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jaclyn Smith
1.919.813.0123
Hometowne Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2352895
Last Updated: 11/11/2020
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