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139 Eddlestone Court Clayton, NC 27520

4 Beds 3 Baths 2,320 sqft Built 2008

INVESTimate

$285,000

List Price

$1,670

$1,503 - $1,837

Rent Est.

$300,333  ( +5.38%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $122.84
  • 6 Days on Market
  • MLS # : 2338482
  • Updated Date : 08/25/2020 at 12:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,320 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mark Spain Real Estate

Listing Agent's Description

This lovely cul-de-sac home in the Edinburgh subdivision is prime for enjoyable family living on roughly .63 acres. This 4 bedroom 2.5d bath home has a 1st floor master bedroom w/walk-in closet and a separate shower/tub bath. The home exudes potential with a large unfinished bonus area. The upstairs living area has a split staircase layout with a nice 4th bedroom and a separate office/bonus area. Screened in porch, large deck, and fence backyard with a storage shed. You don't want to miss this one.

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • #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)

PRICE & RENT TRENDS

Neighborhood: Edinburgh

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $131k265k

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

Neighborhood: Edinburgh

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700Rent in $9461720

* 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
Powhatan Elementary School Primary Regular 565 35 6
Riverwood Middle School Middle Regular 1,149 64 7
Clayton High School High Regular 1,512 85 5

Powhatan Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 35
6
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,149
  • # of teachers: 64
7
GreatSchools Rating

Clayton High School

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

$256,500$313,500$285,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,052
Property Tax -$181
Property Insurance -$72
HOA -$10
Property Management Fees -$150
CASH FLOW
$205

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.

$285,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.38%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$39,117

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,798

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,6753$1,6954$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 139 Eddlestone Court Clayton, 1
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.72
    •  
  • 218 Gordon Park Boulevard Clayton, 2
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2019
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.74
    •  
  • 901 Birkdale Drive Clayton, 3
    • 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 1994
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.73
    •  
  • 79 Glacier Point Clayton, 4
    • 5 beds 4 baths ∙ 2,217 Sqft ∙ Built 2020 5 beds 4 baths ∙ 2,217 Sqft ∙ Built 2020
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.81
    •  
  • 89 Saddleback Way Clayton, 5
    • 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 2017
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.82
    •  
PROPERTY LISTING DETAILS
Amy Hiott
1.919.395.0220
Mark Spain Real Estate
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2338482
Last Updated: 08/25/2020
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