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125 Tally Ho Drive Selma, NC 27576

3 Beds 2 Baths 1,444 sqft Built 1988

INVESTimate

$220,000

List Price

$1,250

$1,125 - $1,375

Rent Est.

$229,592  ( +4.36%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $152.35
  • 8 Days on Market
  • MLS # : 2337913
  • Updated Date : 08/20/2020 at 14:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,444 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Enjoy One Story Living on an Acre in Beautiful Tree-lined Riverdell Chase. Close to Flowers YMCA, Archer Lodge, and the new Publix. Great 3/2 Ranch Floor Plan offering Formal DR and Oversized Deck Perfect for Entertaining. Corner Lot with Flower Gardens and Mature Trees. HUGE 598 SF Workshop for your Work/School Possibilities at Home. Separate 2 Car Garage. Easy Maintenance Siding & Newer Windows & Doors. Newer HVAC & Water Heater. This is a MUST See!

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
  • #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)

PRICE & RENT TRENDS

Neighborhood: River Dell Chase

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $92k265k

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

Neighborhood: River Dell Chase

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7251595

* 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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$812
Property Tax -$144
Property Insurance -$55
HOA -$29
Property Management Fees -$113
CASH FLOW
$97

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.

$220,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.36%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$22,390

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,250
$1,250
RENT COMPS ANALYSIS
  • 125 Tally Ho Drive Selma,
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.87
    •  
PROPERTY LISTING DETAILS
Patii Breitenbach
1.919.819.7625
Exp Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2337913
Last Updated: 08/20/2020
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