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1315 Carolina Loop Hillsborough, NC 27278

3 Beds 2 Baths 1,475 sqft Built 1961

$259,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $175.59
  • 3 Days on Market
  • MLS # : 2369082
  • Updated Date : 02/27/2021 at 13:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,475 sqft
  • Baths : 1 full , 1 half
Listing Agent

United Brokers Ltd

Listing Agent's Description

Beautiful all brick ranch on large lot. Completely repainted inside, new carpet, refinished hardwood floors, new LVP flooring in kitchen. Mast bath and kitchen updated. New ceiling fans, hardware, and LED lighting. Large front porch overlooking wooded front yard. 2 large outbuildings. Conveniently located to all local schools and a short drive to UNC and Duke.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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

Zip Code: 27278

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $111k303k

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

Zip Code: 27278

ZipNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700Rent in $9011734

* 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
Cameron Park Elementary School Primary Regular 590 41 6
Charles W. Stanford Middle School Middle Regular 657 42 6
Orange High School High Regular 1,305 79 7

Cameron Park Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 41
6
GreatSchools Rating

Charles W. Stanford Middle School

  • Education Level: Middle
  • # of students: 657
  • # of teachers: 42
6
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,305
  • # of teachers: 79
7
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$900
Property Tax -$202
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$184

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$259,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$29,969

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,593

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4003$1,460
$1,460
RENT COMPS ANALYSIS
  • 1315 Carolina Loop Hillsborough, NC 3
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.99
    •  
  • 100 S Hassel Street Hillsborough, NC 1
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1964
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.98
    •  
  • 1509 Park Lane Hillsborough, NC 2
    • 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1959
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.18
    •  
PROPERTY LISTING DETAILS
Steve Toop
1.910.791.2829
United Brokers Ltd
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2369082
Last Updated: 02/27/2021
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