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136 Wood Bend Court Clayton, NC 27520

3 Beds 3 Baths 1,546 sqft Built 2004

$215,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $139.07
  • 5 Days on Market
  • MLS # : 2352355
  • Updated Date : 11/06/2020 at 18:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,546 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hometowne Realty

Listing Agent's Description

Updated 2 story home with 3 bedrooms 2 1/2 baths situated on a cul-de-sac lot. Harwood floors throughout the 1st floor. Large family room with gas log fireplace. Spacious kitchen area with stainless steel appliances and large breakfast room. Separate dining room. Master Bedroom with vaulted ceiling, and large walk in closet. Outside you will find deck and a 10x10 storage shed. Convenient location off Hwy 42 with easy access to Hwy 70.

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

Neighborhood: Walnut Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $120k265k

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

Neighborhood: Walnut Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900950100010501100115012001250130013501400145015001550Rent in $8841595

* 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
West Clayton Elementary School Primary Regular 902 58 6
Clayton Middle School Middle Regular 793 49 4
Clayton High School High Regular 1,512 85 5

West Clayton Elementary School

  • Education Level: Primary
  • # of students: 902
  • # of teachers: 58
6
GreatSchools Rating

Clayton Middle School

  • Education Level: Middle
  • # of students: 793
  • # of teachers: 49
4
GreatSchools Rating

Clayton High School

  • Education Level: High
  • # of students: 1,512
  • # of teachers: 85
5
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$793
Property Tax -$221
Property Insurance -$57
Property Management Fees -$121
CASH FLOW
$148

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.

$215,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.0%
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$100k$200k$300k$400k$500k$600k$700k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$26,857

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,345

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,3403$1,4254$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 136 Wood Bend Court Clayton, NC 2
    • 3 beds 3 baths ∙ 1,546 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,546 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.87
    •  
  • 213 Alder Lane Clayton, NC 1
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2003
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.83
    •  
  • 300 Alder Lane Clayton, NC 3
    • 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1999
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.90
    •  
  • 109 Walnut Creek Drive Clayton, NC 4
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1996
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 1000 Bayberry Court Clayton, NC 5
    • 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 2003
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Rodney Carroll
1.919.422.4162
Hometowne Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2352355
Last Updated: 11/06/2020
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