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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $133.93
- 3 Days on Market
- MLS # : 2367858
- Updated Date : 02/20/2021 at 20:20
CONSTRUCTION
- Beds : 3
- Floor Size : 1,904 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Preferred Realty
Listing Agent's Description
Coming Soon!! Beautiful, spacious home on a private corner lot in Garner!! Prime Location!!! Just minutes away from shopping and restaurants at White Oak Crossing.The whole house has been freshly painted and new carpet has been installed upstairs. Definitely a must see!!!
SEE MORE
- 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
- #7 Best Big City for Jobs 2018 (Forbes, 2018)
- Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
PRICE & RENT TRENDS
Neighborhood: Bingham Station
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Bingham Station
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,520 |
| EXPENSES | Loan Payment | -$886 |
| Property Tax | -$223 | |
| Property Insurance | -$64 | |
| HOA | -$25 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$203
|
||
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.
$255,000
PROJECTED PRICE
$1,520
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 4.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.49% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$73,325
LOAN DETAILS
$886
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $63,750 |
| Loan Amount | $191,250 |
9.58
YEARS SAVED
$34,327
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 -
$0.8
LIST RENT PER SQFT
-
$1,606
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
-
124 Bellfare Drive Garner, NC 4
- 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 2006
- Rent
- Rent Per SQFT
- $1,520
- $0.80
-
1200 Stapleton Drive Garner, NC 1
- 4 beds 3 baths ∙ 1,812 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,812 Sqft ∙ Built 1991
LEASED 05/26/20- Rent
- Rent Per SQFT
- $1,480
- $0.82
-
110 Steam Engine Way Garner, NC 2
- 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 2006
LEASED 04/29/20- Rent
- Rent Per SQFT
- $1,495
- $0.87
-
141 Sleeper Car Lane Garner, NC 3
- 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2005
LEASED 01/29/21- Rent
- Rent Per SQFT
- $1,510
- $0.84
PROPERTY LISTING DETAILS
1.919.592.6550
Keller Williams Preferred Realty
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2367858
Last Updated: 02/20/2021
