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145 Relict Drive Clayton, NC 27527

4 Beds 3 Baths 2,876 sqft Built 2019

$290,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $100.83
  • 4 Days on Market
  • MLS # : 2353325
  • Updated Date : 11/13/2020 at 13:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,876 sqft
  • Baths : 2 full , 1 half
Listing Agent

Howard Perry & Walston Realtor

Listing Agent's Description

Great Outdoor Entertaining Area w/Paver Stone Fire Pit & Paver Stone Walls w/Columns for Seating! White Vinyl Fenced Back Yard! Hardwood Style Floors thru-out 1st Flr! Kit w/Granite Ctops, Subway Tile Backsplsh, Center Islnd, Stained Flat Panel Cabs w/Brushed Nickel Pulls, SS Appls; Gas Range/Oven, Built-n Micro & DW! Lg Master Bdm w/Vaulted Ceilg, 3 Windws & Brushd Nickl CFan w/Lght Kit! Master Bth w/Dual Vanity, Brushd Nickl Vanity Light & Oversized Shower! Spacious Bdrms! Loft/BonusRm w/CFan & Lght!

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
  • #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)

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
River Dell Elementary School Primary Regular 898 51 4
Archer Lodge Middle School Middle Regular 1,058 62 4
Corinth Holders High School High Regular 1,679 91 5

River Dell Elementary School

  • Education Level: Primary
  • # of students: 898
  • # of teachers: 51
4
GreatSchools Rating

Archer Lodge Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 62
4
GreatSchools Rating

Corinth Holders High School

  • Education Level: High
  • # of students: 1,679
  • # of teachers: 91
5
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,070
Property Tax -$196
Property Insurance -$83
HOA -$50
Property Management Fees -$157
CASH FLOW
$185

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.

$290,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 3.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

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$78,850

INVESTMENT

$78,850

Down Payment
$72,500
Rehab Estimate
$2,000
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$39,282

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,884

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,7403$1,7454$1,7955$1,795
$1,795
RENT COMPS ANALYSIS
  • 145 Relict Drive Clayton, NC 2
    • 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.61
    •  
  • 427 River Dell Townes Avenue Clayton, NC 1
    • 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 2019
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.67
    •  
  • 42 Pearsall Farm Lane Clayton, NC 3
    • 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 2017
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.64
    •  
  • 317 Flowers Crest Way Clayton, NC 4
    • 4 beds 3 baths ∙ 2,743 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,743 Sqft ∙ Built 2016
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.65
    •  
  • 91 Flowers Crest Way Clayton, NC 5
    • 4 beds 3 baths ∙ 2,737 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,737 Sqft ∙ Built 2015
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.66
    •  
PROPERTY LISTING DETAILS
Jim Allen
1.919.645.2114
Howard Perry & Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2353325
Last Updated: 11/13/2020
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