Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1720 Piney Grove Church Road Hillsborough, NC 27278

3 Beds 2 Baths 1,419 sqft Built 2001

$259,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $182.52
  • 6 Days on Market
  • MLS # : 2363521
  • Updated Date : 01/30/2021 at 13:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,419 sqft
  • Baths : 2 full
Listing Agent

Realty World Carolina Props.

Listing Agent's Description

Enjoy all the privacy and convenience of this 3 bedroom 2 bath home. Located minutes to Duke and downtown Hillsborough this single level home offers a beautiful new kitchen with quartz countertops, LVP flooring throughout, and tons of wonderful outdoor space. Located on over one acre the lot features beautiful wooded views, landscaping, raised garden beds, and a fenced backyard. The garage and additional large detached shed provide even more storage. Come experience peaceful living on Piney Grove.

SEE MORE

MARKET HIGHLIGHTS

  • #7 Best Big City for Jobs 2018 (Forbes, 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
  • 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

Zip Code: 27278

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $111k303k

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

Zip Code: 27278

ZipNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700Rent in $9011734

* 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
Cameron Park Elementary School Primary Regular 590 41 6
A.l. Stanback Middle School Middle Regular 618 49 5
Cedar Ridge High School High Regular 1,163 74 7

Cameron Park Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 41
6
GreatSchools Rating

A.l. Stanback Middle School

  • Education Level: Middle
  • # of students: 618
  • # of teachers: 49
5
GreatSchools Rating

Cedar Ridge High School

  • Education Level: High
  • # of students: 1,163
  • # of teachers: 74
7
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$900
Property Tax -$202
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$215

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$259,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$33,343

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,518

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,795
$1,795
RENT COMPS ANALYSIS
  • 1720 Piney Grove Church Road Hillsborough, NC 1
    • 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.05
    •  
  • 2419 Summit Drive Hillsborough, NC 2
    • 3 beds 3 baths ∙ 1,683 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,683 Sqft ∙ Built 2003
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
PROPERTY LISTING DETAILS
Ryann Stewart
1.415.305.8817
Realty World Carolina Props.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2363521
Last Updated: 01/30/2021
BESbswy