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168 Black Angus Drive Garner, NC 27529

3 Beds 4 Baths 2,500 sqft Built 2001

$289,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
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

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
  • #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

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $132k265k

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

Neighborhood: The Meadows of Southfort Plantation

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
West View Elementary School Primary Regular 943 57 4
Cleveland Middle School Middle Regular 1,163 64 7
West Johnston High School High Regular 1,359 83 5

West View Elementary School

  • Education Level: Primary
  • # of students: 943
  • # of teachers: 57
4
GreatSchools Rating

Cleveland Middle School

  • Education Level: Middle
  • # of students: 1,163
  • # of teachers: 64
7
GreatSchools Rating

West Johnston High School

  • Education Level: High
  • # of students: 1,359
  • # of teachers: 83
5
GreatSchools Rating
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

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
$1,599
1$1,5992$1,5993$1,6404$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 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
Nick Kolb
1.919.349.8912
Fonville Morisey/durham Sales Office
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2357326
Last Updated: 12/12/2020
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