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

176 Breland Drive Clayton, NC 27520

3 Beds 2 Baths 1,370 sqft Built 2000

$240,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $175.18
  • 3 Days on Market
  • MLS # : 2354813
  • Updated Date : 11/21/2020 at 14:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,370 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty Nc, Llc

Listing Agent's Description

This 3bed/2ba gorgeous home on .92 acres is ready for you to call home! Fenced in backyard, covered back deck. Hot tub included with roll down curtains for ultimate privacy! Whole house Generac generator (16kW) so that you always have power! Master bath upgraded to acrylic walk-in shower, granite counter top. Hardwood, tile, brand new carpet in the bedrooms. Stainless kitchen appliances. 12 channel security system with brand new 2TB hard drive is a bonus! Water filter system. Lots of value here!

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • 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)

PRICE & RENT TRENDS

Neighborhood: South Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $93k265k

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

Neighborhood: South Plantation

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7621595

* 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
Polenta Elementary School Primary Regular 1,011 66 6
Swift Creek Middle School Middle Regular NA
Cleveland High School High Regular 1,468 80 6

Polenta Elementary School

  • Education Level: Primary
  • # of students: 1,011
  • # of teachers: 66
6
GreatSchools Rating

Swift Creek Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Cleveland High School

  • Education Level: High
  • # of students: 1,468
  • # of teachers: 80
6
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$886
Property Tax -$154
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$107

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.

$240,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$25,385

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,308

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2003$1,320
$1,320
RENT COMPS ANALYSIS
  • 176 Breland Drive Clayton, NC 3
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.96
    •  
  • 228 Duck Pond Lane Clayton, NC 1
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 2003
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.98
    •  
  • 171 Sanders Road Benson, NC 2
    • 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1987
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.93
    •  
PROPERTY LISTING DETAILS
Brian Honeycutt
1.919.961.5167
Fathom Realty Nc, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2354813
Last Updated: 11/21/2020
BESbswy