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121 Redbud Drive Clayton, NC 27520

3 Beds 2 Baths 1,455 sqft Built 2000

$242,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $166.32
  • 5 Days on Market
  • MLS # : 2365969
  • Updated Date : 02/13/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,455 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Charming & updated ranch on nearly an acre! This house has it all - large deck, screened in porch and flat fenced yard. Oversized 2 car garage! New roof 2019. New HVAC 2021. Check out the interior oversized barn door off the kitchen that you've been dreaming of. Add to all of this NO HOA fees and you've got yourself the perfect house in Johnston County! Showings expected to start 2/14.

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: Creekside Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $131k265k

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

Neighborhood: Creekside Hills

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
Polenta Elementary School Primary Regular 1,011 66 6
Swift Creek Middle School Middle Regular NA
Cleveland High School High Regular 1,468 80 6

Polenta Elementary School

  • Education Level: Primary
  • # of students: 1,011
  • # of teachers: 66
6
GreatSchools Rating

Swift Creek Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Cleveland High School

  • Education Level: High
  • # of students: 1,468
  • # of teachers: 80
6
GreatSchools Rating
 

$217,800$266,200$242,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$841
Property Tax -$164
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$221

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.

$242,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.4%
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$18k

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$69,880

INVESTMENT

$69,880

Down Payment
$60,500
Rehab Estimate
$5,750
Closing Costs
$3,630

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$841

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,500
Loan Amount $181,500
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$36,957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,494

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4003$1,4004$1,495
$1,495
RENT COMPS ANALYSIS
  • 121 Redbud Drive Clayton, NC 3
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.96
    •  
  • 1907 Ranch Road Clayton, NC 1
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1996
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.04
    •  
  • 128 Plymouth Drive Clayton, NC 2
    • 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 2013
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 646 Santa Gertrudis Drive Clayton, NC 4
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2015
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
PROPERTY LISTING DETAILS
Timothy Neubauer
1.919.300.5162
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2365969
Last Updated: 02/13/2021
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