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PROPERTY INFO
FACTS
- Built In 1995
- Price/Sqft : $154.53
- 2 Days on Market
- MLS # : 2352685
- Updated Date : 11/07/2020 at 14:28
CONSTRUCTION
- Beds : 4
- Floor Size : 1,876 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Southland Realty Ii
Listing Agent's Description
COMING SOON! 4BR/2.5Ba on 3.51 Acres in Clayton! Detached 2 Car Garage* Rocking Chair Front Porch* Large Family Room* Kitchen w/ Breakfast Nook* Separate Dining Room* First Floor Bedroom could be Office* Laundry on First Floor* Master Suite w/ WIC Upstairs w/ 2 Secondary BRs* Sunroom* Horses Allowed* Close to US 70 BYP*
SEE MORE
- #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
Zip Code: 27520
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 27520
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,590 |
| EXPENSES | Loan Payment | -$1,070 |
| Property Tax | -$184 | |
| Property Insurance | -$64 | |
| Property Management Fees | -$143 | |
|
CASH FLOW
$130
|
||
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.
$289,900
PROJECTED PRICE
$1,590
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 5.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.47% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$82,574
LOAN DETAILS
$1,070
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $72,475 |
| Loan Amount | $217,425 |
7.33
YEARS SAVED
$30,989
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,590
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$1,501
COMP ESTIMATED VALUE -
$0.8
COMP AVG. RENT PER SQFT
Comps Range
-
1575 Strickland Road Clayton, NC 2
- 4 beds 3 baths ∙ 1,876 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,876 Sqft ∙ Built 1995
- Rent
- Rent Per SQFT
- $1,590
- $0.85
-
187 Nelson Court Clayton, NC 1
- 3 beds 3 baths ∙ 1,631 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,631 Sqft ∙ Built 2002
LEASED 10/16/19- Rent
- Rent Per SQFT
- $1,300
- $0.80
PROPERTY LISTING DETAILS
1.919.868.6316
Re/max Southland Realty Ii
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2352685
Last Updated: 11/07/2020
