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131 Pine Forest Drive Easley, SC 29642

3 Beds 2 Baths - sqft Built 1975

INVESTimate

$235,000

List Price

$1,570

$1,413 - $1,727

Rent Est.

$243,836  ( +3.76%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1975
  • Price/Sqft : $123.29
  • 3 Days on Market
  • MLS # : 1425708
  • Updated Date : 08/24/2020 at 16:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent

Keller Williams Upstate Legacy

Listing Agent's Description

A quality brick ranch home with basement in Easley within walking distance to JB Red Owens Park! Over 1900 sq ft and on almost an acre lot, this home features 3 bedrooms and 2 full baths and is a perfect buy to convert to a DIY farmhouse look! The casual Great Room is warm and cozy boasting a beautiful stone wall & gas log fireplace with a vaulted ceiling complimented by wood beams. A huge asset to this home is the flexible spacious bedroom layout with 2 optional master suites each hosting a full bathroom. Bring your ideas and inspiration to the already roomy & inviting kitchen featuring quality cabinetry, beautiful laminate flooring, and breakfast area. Enjoy a second family room with plenty of space to be used as a formal living room, play room, partially as a dining room or even a home office! Many updates to this home including paint throughout, laminate flooring, new roof, new furnace and HVAC unit, replacement of water lines underneath the house, deck repainted, termite bond in place, plus more! So many possibilities available including additional space in the 900+ sq ft unfinished walk-out basement, perfect for an older child, elderly parent, or workshop! Bonus: Brand new single garage door for basement garage. From the Great Room, you have access to the back deck overlooking the beautiful backyard where you can watch the kids play. The best memories will be made down by the creek! So much fun to be had and so much creativity to be unleashed! 2 car carport in addition to the attached carport and detached workshop. Just outside the city limits! Come see what all this home has to offer!

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PRICE & RENT TRENDS

Zip Code: 29642

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180kPrice in $79k183k

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

Zip Code: 29642

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9171838

* 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
Forest Acres Elementary School Primary Regular 710 43 8
Richard H. Gettys Middle School Middle Regular 1,316 73 6
Easley High School High Regular 1,807 89 4

Forest Acres Elementary School

  • Education Level: Primary
  • # of students: 710
  • # of teachers: 43
8
GreatSchools Rating

Richard H. Gettys Middle School

  • Education Level: Middle
  • # of students: 1,316
  • # of teachers: 73
6
GreatSchools Rating

Easley High School

  • Education Level: High
  • # of students: 1,807
  • # of teachers: 89
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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 $1,570
EXPENSES Loan Payment -$867
Property Tax -$234
Property Insurance -$62
Property Management Fees -$126
CASH FLOW
$282

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.

$235,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.16%
Appreciation Year (1-5) 3.76%
Maintenance Year (1-5) 8.00%
Vacancy 6.54%
Length of Stay Years 2

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 30% 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

10.5

YEARS SAVED

$43,039

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,601

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4953$1,570
$1,570
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 131 Pine Forest Drive Easley, 3
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.82
    •  
  • 529 Kingsman Lane Easley, 1
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 3 beds 2 baths ∙ 1,572 Sqft ∙ Built
    property image
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
  • 369 Hamilton Parkway Easley, 2
    • 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 4 beds 2 baths ∙ 1,834 Sqft ∙ Built
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.82
    •  
PROPERTY LISTING DETAILS
Cindy Fox Miller
1.864.238.9100
Keller Williams Upstate Legacy
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1425708
Last Updated: 08/24/2020
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