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141 Sleeper Car Lane Garner, NC 27529

3 Beds 3 Baths 1,761 sqft Built 2005

$245,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $139.13
  • 2 Days on Market
  • MLS # : 2354904
  • Updated Date : 11/22/2020 at 05:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,761 sqft
  • Baths : 2 full , 1 half
Listing Agent

Southern Realty Group Inc.

Listing Agent's Description

Looking for a Beautiful well kept 2 story home for your family? This home features 9ft ceilings on the 1st floor, Open concept plan w/ Lots of Cabinets in the Kitchen. kitchen Island, Large Family Room w/ Fireplace & gas logs, 2 car garage, Large Master bedroom bath has shower & separate garden tub 2 additional oversized bedrooms upstairs Laundry Room is located on the 2 floor. Home is Located on a Cul De Sac Front Porch has stone accents. Patio, HVAC updated 2019. Flat lot with spacious back yard.

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

PRICE & RENT TRENDS

Neighborhood: Bingham Station

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $132k265k

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

Neighborhood: Bingham Station

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2950100010501100115012001250130013501400145015001550Rent in $9461596

* 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
Bryan Road Elementary Primary Regular NA
East Garner Middle School Middle Magnet 1,361 83 4
South Garner High School High Regular NA

Bryan Road Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

East Garner Middle School

  • Education Level: Middle
  • # of students: 1,361
  • # of teachers: 83
4
GreatSchools Rating

South Garner High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$904
Property Tax -$206
Property Insurance -$62
HOA -$25
Property Management Fees -$142
CASH FLOW
$241

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.

$245,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.9%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$39,702

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,573

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,4953$1,5804$1,600
$1,600
RENT COMPS ANALYSIS
  • 141 Sleeper Car Lane Garner, NC 3
    • 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.90
    •  
  • 104 Stefi Court Garner, NC 1
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1989
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.92
    •  
  • 110 Steam Engine Way Garner, NC 2
    • 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 2006
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.87
    •  
  • 1207 Silverhill Court Garner, NC 4
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1988
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
PROPERTY LISTING DETAILS
Tim Upchurch
1.919.795.6100
Southern Realty Group Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2354904
Last Updated: 11/22/2020
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