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1824 Daniels Farm Road 
Mebane, NC
27302
3 Beds 2 Baths 1,380 sqft
Built 1999
INVESTimate
$199,000
List Price
$58,485
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PROPERTY INFO
FACTS
- Built In 1999
- Price/Sqft : $144.20
- 3 Days on Market
- MLS # : 2338891
- Updated Date : 08/24/2020 at 17:44
CONSTRUCTION
- Beds : 3
- Floor Size : 1,380 sqft
- Baths : 2 full
Listing Agent
Mark Spain Real Estate
Listing Agent's Description
If your clients are looking for privacy and peace and quiet, this is the home for them. This home sits on a 2-acre lot at the end of a cul-de-sac and is surrounded by old-growth trees. With 3 bedrooms and 2 bathrooms, this home is immaculately maintained. The Trane HVAC unit is only a year old. Relax on your deck overlooking your large backyard! A fantastic home in a fantastic location. It won't last long.
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
Zip Code: 27302
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 27302
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,290 |
| EXPENSES | Loan Payment | -$734 |
| Property Tax | -$153 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$116 | |
|
CASH FLOW
$234
|
||
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.
$199,000
PROJECTED PRICE
$1,290
PROJECTED RENT
0.65%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.65% |
| Appreciation Year (1-5) | 4.39% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.80% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$58,485
LOAN DETAILS
$734
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $49,750 |
| Loan Amount | $149,250 |
9.75
YEARS SAVED
$33,687
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,290
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$1,228
COMP ESTIMATED VALUE -
$0.89
COMP AVG. RENT PER SQFT
Comps Range
-
1824 Daniels Farm Road Mebane, 2
- 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1999
- Rent
- Rent Per SQFT
- $1,290
- $0.93
-
607 Widgeon Way Mebane, 1
- 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2015
LEASED 07/28/19- Rent
- Rent Per SQFT
- $1,250
- $0.89
PROPERTY LISTING DETAILS
1.919.395.0220
Mark Spain Real Estate
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2338891
Last Updated: 08/24/2020
