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121 Pearson Place Clayton, NC 27527

3 Beds 3 Baths 2,036 sqft Built 2006

$272,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $133.60
  • 2 Days on Market
  • MLS # : 2366713
  • Updated Date : 02/13/2021 at 13:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,036 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hometowne Realty

Listing Agent's Description

COMING SOON Popular floorplan located in Riverwood Athletic Club. Fenced in back yard & backed to woods!!! 3 bedrooms plus bonus room! More details to follow!

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
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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: Riverwood Athletic Club

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $123k265k

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

Neighborhood: Riverwood Athletic Club

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2950100010501100115012001250130013501400145015001550Rent in $9461595

* 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
Riverwood Elementary School Primary Regular 837 49 6
Riverwood Middle School Middle Regular 1,149 64 7
Corinth Holders High School High Regular 1,679 91 5

Riverwood Elementary School

  • Education Level: Primary
  • # of students: 837
  • # of teachers: 49
6
GreatSchools Rating

Riverwood Middle School

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

Corinth Holders High School

  • Education Level: High
  • # of students: 1,679
  • # of teachers: 91
5
GreatSchools Rating
 

$244,800$299,200$272,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$945
Property Tax -$279
Property Insurance -$67
HOA -$73
Property Management Fees -$119
CASH FLOW
$137

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.

$272,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
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$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,830

INVESTMENT

$77,830

Down Payment
$68,000
Rehab Estimate
$5,750
Closing Costs
$4,080

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,000
Loan Amount $204,000
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$27,394

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,639

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5753$1,6204$1,6255$1,750
$1,750
RENT COMPS ANALYSIS
  • 121 Pearson Place Clayton, NC 3
    • 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.80
    •  
  • 216 Pearson Place Clayton, NC 1
    • 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 2007
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
  • 257 Pearson Place Clayton, NC 2
    • 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 2019
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.85
    •  
  • 357 Collinsworth Drive Clayton, NC 4
    • 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2005
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.76
    •  
  • 149 Pearson Place Clayton, NC 5
    • 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2006
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
PROPERTY LISTING DETAILS
Diana May
1.919.608.7702
Hometowne Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2366713
Last Updated: 02/13/2021
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