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128 Arabian Way Simpsonville, SC 29681

3 Beds 2 Baths - sqft Built 2003

$235,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $121.64
  • 2 Days on Market
  • MLS # : 1433005
  • Updated Date : 12/05/2020 at 16:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent

Keller Williams Greenville Cen

Listing Agent's Description

Beautiful home and ready to move in!!! Wonderful Location near Five Forks area, Ranch with a bonus in a quiet cul de sac in a very desirable community. All brick home with fabulous front porch and a screened porch that overlooks the beautiful woods. Large Master bedroom with Spacious Master Bath with a large shower. Open floor plan with lots of natural light. Well-maintained. All appliances convey. This home features 3 bedrooms and a very spacious bonus, 2 full baths. Hard to find, home in Steeplechase with New Roof in 2017 and HVAC system is only 5 years old, this home has a lot to offer: lovely curb appeal, quiet and nicely landscaped, back yard with wooded area behind for privacy and a screened porch and a patio. The Great Room has a gas Fireplace. The large Bonus Room over the garage makes for great family space, storage space, or could be a 4th Bedroom with walk-in closet. Homes in this neighborhood do not come on the market very often. Don't miss it. Call Showing Time 864-467-0000 to set your appointment.

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PRICE & RENT TRENDS

Zip Code: 29681

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k259k

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

Zip Code: 29681

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9171760

* 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
Bells Crossing Elementary School Primary Regular 955 53 9
Hillcrest Middle School Middle Regular 1,001 55 8
Hillcrest High School High Regular 2,106 103 6

Bells Crossing Elementary School

  • Education Level: Primary
  • # of students: 955
  • # of teachers: 53
9
GreatSchools Rating

Hillcrest Middle School

  • Education Level: Middle
  • # of students: 1,001
  • # of teachers: 55
8
GreatSchools Rating

Hillcrest High School

  • Education Level: High
  • # of students: 2,106
  • # of teachers: 103
6
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$867
Property Tax -$290
Property Insurance -$63
Property Management Fees -$120
CASH FLOW
$160

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.

$235,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 3.4%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$29,154

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,536

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5504$1,5955$1,750
$1,750
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 128 Arabian Way Simpsonville, SC 1
    • 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.78
    •  
  • 100 Grayhawk Way Simpsonville, SC 2
    • 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 3 beds 3 baths ∙ 2,004 Sqft ∙ Built
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 136 Bathurst Lane Simpsonville, SC 3
    • 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 4 beds 3 baths ∙ 1,952 Sqft ∙ Built
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 315 Karsten Creek Drive Simpsonville, SC 4
    • 4 beds 3 baths ∙ 2,026 Sqft ∙ Built 4 beds 3 baths ∙ 2,026 Sqft ∙ Built
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 600 Powdermill Drive Simpsonville, SC 5
    • 3 beds 3 baths ∙ 2,121 Sqft ∙ Built 3 beds 3 baths ∙ 2,121 Sqft ∙ Built
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
PROPERTY LISTING DETAILS
Dina Petersen
1.864.417.8504
Keller Williams Greenville Cen
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1433005
Last Updated: 12/05/2020
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