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PROPERTY INFO
FACTS
- Single Family
- Built In 2001
- Price/Sqft : $115.60
- 4 Days on Market
- MLS # : 2357326
- Updated Date : 12/12/2020 at 02:00
CONSTRUCTION
- Beds : 3
- Floor Size : 2,500 sqft
- Baths : 3 full , 1 half
Listing Agent
Fonville Morisey/durham Sales Office
Listing Agent's Description
Amazing value in convenient 42/40 location! Garner address with low JoCo taxes! Fall in love with this beautiful home on almost 3/4 acre with FENCED IN YARD! Primary bedroom/suite and laundry on main level! Gorgeous family room with cathedral ceilings and tons of natural light anchored by inviting fireplace! Recent kitchen updates include all SS appliances and granite! Additional 2 beds & 2 baths upstairs along with a perfect in-law suite in the bonus room with a kitchen and balcony! 3D VIRTUAL TOUR
SEE MORE
- 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
Neighborhood: The Meadows of Southfort Plantation
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Meadows of Southfort Plantation
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,640 |
| EXPENSES | Loan Payment | -$1,066 |
| Property Tax | -$186 | |
| Property Insurance | -$76 | |
| HOA | -$33 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$160
|
||
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.
$289,000
PROJECTED PRICE
$1,640
PROJECTED RENT
0.57%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 5.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.49% |
| 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
$82,335
LOAN DETAILS
$1,066
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $72,250 |
| Loan Amount | $216,750 |
8.58
YEARS SAVED
$39,100
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,640
LIST RENT -
$0.66
LIST RENT PER SQFT
-
$1,700
COMP ESTIMATED VALUE -
$0.68
COMP AVG. RENT PER SQFT
Comps Range
-
168 Black Angus Drive Garner, NC 3
- 3 beds 4 baths ∙ 2,500 Sqft ∙ Built 2001 3 beds 4 baths ∙ 2,500 Sqft ∙ Built 2001
![property image]()
- Rent
- Rent Per SQFT
- $1,640
- $0.66
-
104 Dando Street Garner, NC 1
- 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2019
![property image]()
LEASED 12/01/19- Rent
- Rent Per SQFT
- $1,599
- $0.67
-
119 Dando Street Garner, NC 2
- 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2019
![property image]()
LEASED 02/01/20- Rent
- Rent Per SQFT
- $1,599
- $0.67
-
264 Dando Street Garner, NC 4
- 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020
![property image]()
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,650
- $0.69
-
307 Dando Street Garner, NC 5
- 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020
![property image]()
LEASED 05/10/20- Rent
- Rent Per SQFT
- $1,650
- $0.69
PROPERTY LISTING DETAILS
1.919.349.8912
Fonville Morisey/durham Sales Office
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2357326
Last Updated: 12/12/2020
