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122 Hunter Lane Zebulon, NC 27597

3 Beds 2 Baths 1,009 sqft Built 1997

$199,000

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $197.22
  • 3 Days on Market
  • MLS # : 2369063
  • Updated Date : 02/26/2021 at 20:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,009 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Zebulon home has one story.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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

PRICE & RENT TRENDS

Neighborhood: The Bluffs at Buffalo Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $88k265k

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

Neighborhood: The Bluffs at Buffalo Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7391595

* 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
River Dell Elementary School Primary Regular 898 51 4
Archer Lodge Middle School Middle Regular 1,058 62 4
Corinth Holders High School High Regular 1,679 91 5

River Dell Elementary School

  • Education Level: Primary
  • # of students: 898
  • # of teachers: 51
4
GreatSchools Rating

Archer Lodge Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 62
4
GreatSchools Rating

Corinth Holders High School

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

$179,100$218,900$199,000

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$691
Property Tax -$131
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
$112

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.

$199,000

PROJECTED PRICE

$1,100

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
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$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$691

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$23,172

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,164

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,1003$1,2004$1,500
$1,500
RENT COMPS ANALYSIS
  • 122 Hunter Lane Zebulon, NC 2
    • 3 beds 2 baths ∙ 1,009 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,009 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.09
    •  
  • 123 Percheron Drive Zebulon, NC 1
    • 3 beds 2 baths ∙ 1,012 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,012 Sqft ∙ Built 2000
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $1.04
    •  
  • 196 Morgan Parkway Zebulon, NC 3
    • 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1998
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.06
    •  
  • 126 Pinto Lane Zebulon, NC 4
    • 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 2000
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.36
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.919.679.9883
Opendoor Brokerage Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2369063
Last Updated: 02/26/2021
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