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129 Peach Orchard Drive Benson, NC 27504

3 Beds 3 Baths 2,131 sqft Built 1994

$289,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $136.04
  • 5 Days on Market
  • MLS # : 2359067
  • Updated Date : 12/26/2020 at 18:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,131 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hometowne Realty

Listing Agent's Description

Stunning and loaded with character! Call this HOME! Custom built featuring dwnstrs owners suite with spa like bath (garden tub/ walk in tiled shower), XL walk in closet, hardwood flooring throughout , kit., Sunrm & baths are tiled! Magnificent kit. has beautiful custom cabinets, granite counters & is open to fam rm and sunroom ! Catwalk balcony, 2 spacious bedrooms & finished bonus rm on 2nd floor! Enjoy entertaining on the pergola covered back deck overlooking a large wooded lot!Conv to I40, I95 , RDU!

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • #7 Best Big City for Jobs 2018 (Forbes, 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: Desert Pines

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $103k265k

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

Neighborhood: Desert Pines

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7671595

* 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
Dixon Road Elementary School Primary Regular 551 34 7
Mcgee's Crossroads Middle School Middle Regular 895 49 4
West Johnston High School High Regular 1,359 83 5

Dixon Road Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 34
7
GreatSchools Rating

Mcgee's Crossroads Middle School

  • Education Level: Middle
  • # of students: 895
  • # of teachers: 49
4
GreatSchools Rating

West Johnston High School

  • Education Level: High
  • # of students: 1,359
  • # of teachers: 83
5
GreatSchools Rating
 

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

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,070
Property Tax -$184
Property Insurance -$69
HOA -$9
Property Management Fees -$119
CASH FLOW
$270

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.

$289,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$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 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$52,793

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,811

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,7753$1,850
$1,850
RENT COMPS ANALYSIS
  • 129 Peach Orchard Drive Benson, NC 1
    • 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.81
    •  
  • 121 Peach Orchard Drive Benson, NC 2
    • 3 beds 3 baths ∙ 1,910 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,910 Sqft ∙ Built 1994
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.93
    •  
  • 359 N Pleasant Coates Road Benson, NC 3
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2003
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
PROPERTY LISTING DETAILS
Erica Banks
1.919.427.8550
Hometowne Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2359067
Last Updated: 12/26/2020
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