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1242 Rutherford Road Greenville, SC 29609

3 Beds 2 Baths - sqft Built 1966

$289,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $180.74
  • 6 Days on Market
  • MLS # : 1435509
  • Updated Date : 01/19/2021 at 19:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent

Bhhs C Dan Joyner - N. Pleas

Listing Agent's Description

Completely Renovated 3 BR / 2 BA Brick Beauty, with Income or In-law possibilities … (The upstairs has its own living areas and a second kitchen with a private exterior entrance) So it could be a wonderful In-law suite, Rental, Air B&B, Teen Suite, Master, or simply another living or entertainment area since it can be accessed from the interior as well (Possibilities are endless). The Renovation was total - To include Drywall, Plumbing Fixtures, light fixtures, New Staircase, Flooring, Soft Close Cabinetry in Kitchen and Baths, HVAC, Roof, Windows, Baths, Plumbing pipes and drains all the way to service area at the road, Electrical wiring updated, Stainless Appliances in both kitchens, Granit countertops, Nothing was overlooked … Its only 5 minutes from downtown Greenville via the N. Main Area and 3 minutes from Cherrydale. Don’t miss this one … It’s move-in ready and has a .33 acre lot with rear fencing.

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PRICE & RENT TRENDS

Neighborhood: North Main Area

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $85k273k

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

Neighborhood: North Main Area

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7911653

* 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
Summit Drive Elementary School Primary Regular 490 30 8
League Academy Middle Magnet 766 48 9
Wade Hampton High School High Regular 1,656 84 7

Summit Drive Elementary School

  • Education Level: Primary
  • # of students: 490
  • # of teachers: 30
8
GreatSchools Rating

League Academy

  • Education Level: Middle
  • # of students: 766
  • # of teachers: 48
9
GreatSchools Rating

Wade Hampton High School

  • Education Level: High
  • # of students: 1,656
  • # of teachers: 84
7
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,007
Property Tax -$409
Property Insurance -$57
Property Management Fees -$118
CASH FLOW
-$120

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$289,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 8.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.12%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$4,712

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,684

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,4953$1,5954$1,5955$1,695
$1,695
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 1242 Rutherford Road Greenville, SC 1
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.92
    •  
  • 6 Ragon Lane Greenville, SC 2
    • 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 3 beds 3 baths ∙ 1,520 Sqft ∙ Built
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
  • 8 Crescent Ridge Drive Greenville, SC 3
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 3 beds 2 baths ∙ 1,564 Sqft ∙ Built
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 605 Chick Springs Road Greenville, SC 4
    • 3 beds 3 baths ∙ 1,408 Sqft ∙ Built 3 beds 3 baths ∙ 1,408 Sqft ∙ Built
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.13
    •  
  • 2 Ragon Lane Greenville, SC 5
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 3 beds 2 baths ∙ 1,578 Sqft ∙ Built
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.07
    •  
PROPERTY LISTING DETAILS
Chet Smith
1.864.444.8090
Bhhs C Dan Joyner - N. Pleas
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1435509
Last Updated: 01/19/2021
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