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141 Rivercamp Street Clayton, NC 27527

3 Beds 3 Baths 2,565 sqft Built 2020

INVESTimate

$275,490

List Price

$1,610

$1,449 - $1,771

Rent Est.

$285,325  ( +3.57%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $107.40
  • 8 Days on Market
  • MLS # : 2338103
  • Updated Date : 08/20/2020 at 15:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,565 sqft
  • Baths : 2 full , 1 half
Listing Agent

D.r. Horton, Inc.

Listing Agent's Description

New Community! Parrish Ridge in Wilson's Mills! The Winston plan features 3br/2.5ba at 2,565sqft! Owners suite on main floor! Kitchen offers granite counter tops and tile backsplash, stainless steel apps! RevWood floors throughout main areas! Formal dining room to entertain guests.Owner's bath features dual vanity,5' shower, and large WIC! All of our homes come with our coveted Smart Home Pkg, 10 year limited warranty, 1 year on workmanship. USDA ELIGIBLE! Pictures are representatives.

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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

Zip Code: 27527

ZipNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $131k265k

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

Zip Code: 27527

ZipNIR Market*CityMarket2010Year2000 Q22019 Q295010001050110011501200125013001350140014501500155016001650Rent in $9461678

* 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
Wilson's Mills Elementary School Primary Regular 536 39 5
Smithfield Middle School Middle Regular 744 55 5
Smithfield Selma High School High Regular 1,249 83 2

Wilson's Mills Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 39
5
GreatSchools Rating

Smithfield Middle School

  • Education Level: Middle
  • # of students: 744
  • # of teachers: 55
5
GreatSchools Rating

Smithfield Selma High School

  • Education Level: High
  • # of students: 1,249
  • # of teachers: 83
2
GreatSchools Rating
 

$247,941$303,039$275,490

PURCHASE PRICE

$1,449$1,771$1,610

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$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,016
Property Tax -$186
Property Insurance -$77
HOA -$50
Property Management Fees -$145
CASH FLOW
$136

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$275,490

PROJECTED PRICE

$1,610

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.57%
Maintenance Year (1-5) 3.00%
Vacancy 7.49%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,005

INVESTMENT

$75,005

Down Payment
$68,873
Rehab Estimate
$2,000
Closing Costs
$4,132

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,016

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,873
Loan Amount $206,618
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$31,146

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,667

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,610
$1,610
RENT COMPS ANALYSIS
  • 141 Rivercamp Street Clayton, 2
    • 3 beds 3 baths ∙ 2,565 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,565 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.63
    •  
  • 234 Snowberry Lane Smithfield, 1
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2008
    LEASED 04/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.65
    •  
PROPERTY LISTING DETAILS
Elli Kim
1.919.987.5770
D.r. Horton, Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2338103
Last Updated: 08/20/2020
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