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165 Georgetowne Drive Clayton, NC 27520

3 Beds 3 Baths 2,575 sqft Built 2006

$254,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $98.99
  • 2 Days on Market
  • MLS # : 2366791
  • Updated Date : 02/14/2021 at 02:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,575 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Coming Soon! Showings to begin at 11am on 2/15. Looking for an incredible home within walking distance to downtown Clayton?? This is it! Open floor plan offers large living spaces along with an incredibly spacious kitchen! Double wall oven and TONS of counter space! Upstairs offers spacious bedrooms, loft area, 2nd floor laundry along with the master suite! You'll love master walk in closet! So much space!!! This one won't last long!

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
  • 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)
  • 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: Georgetowne Place

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $131k265k

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

Neighborhood: Georgetowne Place

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2950100010501100115012001250130013501400145015001550Rent in $9461595

* 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
Cooper Academy Primary Regular 593 45 2
Riverwood Middle School Middle Regular 1,149 64 7
Clayton High School High Regular 1,512 85 5

Cooper Academy

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 45
2
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
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$885
Property Tax -$261
Property Insurance -$77
HOA -$18
Property Management Fees -$119
CASH FLOW
$338

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.

$254,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.4%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

12

YEARS SAVED

$47,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,845

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,7004$1,800
$1,800
RENT COMPS ANALYSIS
  • 165 Georgetowne Drive Clayton, NC 3
    • 3 beds 3 baths ∙ 2,575 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,575 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.66
    •  
  • 96 Saddle Oaks Lane Clayton, NC 1
    • 3 beds 3 baths ∙ 2,237 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,237 Sqft ∙ Built 2020
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
  • 145 Georgetowne Drive Clayton, NC 2
    • 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 2005
    property image
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
  • 221 Georgetowne Drive Clayton, NC 4
    • 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 2006
    property image
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
PROPERTY LISTING DETAILS
Sarah Houck
1.919.440.9498
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2366791
Last Updated: 02/14/2021
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