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121 Black Oak Court Clayton, NC 27520

5 Beds 3 Baths 1,833 sqft Built 2020

INVESTimate

$255,850

List Price

$1,520

$1,368 - $1,672

Rent Est.

$269,615  ( +5.38%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $139.58
  • 9 Days on Market
  • MLS # : 2337733
  • Updated Date : 08/25/2020 at 15:37
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,833 sqft
  • Baths : 3 full
Listing Agent

Mattamy Homes Llc

Listing Agent's Description

*Pool community* The ultimate in modern living, The Beech has a completely open first floor. From the second you step through the front door, you can see the family room, kitchen and dining area all at once! The kitchen has stainless appliances, granite counter tops, and a tile back-splash. We also have a guest suite on the 1st floor. Upstairs, the owner’s suite includes a walk-in closet and private bathroom. There are two more bedrooms, and a play room. Also includes a 1-car garage, and a rear patio.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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: Little Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $101k265k

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

Neighborhood: Little Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7711595

* 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
 

$230,265$281,435$255,850

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

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$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$944
Property Tax -$262
Property Insurance -$63
HOA -$40
Property Management Fees -$137
CASH FLOW
$74

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.

$255,850

PROJECTED PRICE

$1,520

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.38%
Maintenance Year (1-5) 3.00%
Vacancy 7.47%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,800

INVESTMENT

$69,800

Down Payment
$63,963
Rehab Estimate
$2,000
Closing Costs
$3,838

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$944

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,963
Loan Amount $191,888
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$20,409

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,471

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4953$1,5204$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 121 Black Oak Court Clayton, 3
    • 5 beds 3 baths ∙ 1,833 Sqft ∙ Built 2020 5 beds 3 baths ∙ 1,833 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.83
    •  
  • 69 Honeybee Trace Clayton, 1
    • 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 2016
    LEASED 09/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.81
    •  
  • 203 Verrazano Place Clayton, 2
    • 4 beds 3 baths ∙ 1,890 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,890 Sqft ∙ Built 2014
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
  • 36 W Falcon Court Clayton, 4
    • 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 2019
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 1088 Lakemont Drive Clayton, 5
    • 4 beds 3 baths ∙ 1,896 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,896 Sqft ∙ Built 2017
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
PROPERTY LISTING DETAILS
Monroe Hale
1.914.443.7499
Mattamy Homes Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2337733
Last Updated: 08/25/2020
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