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189 Crystal Creek Drive Clayton, NC 27520

3 Beds 2 Baths 1,625 sqft Built 2016

$262,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $161.23
  • 5 Days on Market
  • MLS # : 2360301
  • Updated Date : 01/06/2021 at 21:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,625 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

Built in 2016, this Clayton one-story home offers a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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

PRICE & RENT TRENDS

Zip Code: 27520

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k265k

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

Zip Code: 27520

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500Rent in $8231595

* 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
 

$235,800$288,200$262,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$910
Property Tax -$166
Property Insurance -$59
HOA -$7
Property Management Fees -$119
CASH FLOW
$239

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.

$262,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.4%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,180

INVESTMENT

$75,180

Down Payment
$65,500
Rehab Estimate
$5,750
Closing Costs
$3,930

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,500
Loan Amount $196,500
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$40,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,500

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4953$1,4954$1,500
$1,500
RENT COMPS ANALYSIS
  • 189 Crystal Creek Drive Clayton, NC 4
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 187 Nelson Court Clayton, NC 1
    • 3 beds 3 baths ∙ 1,631 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,631 Sqft ∙ Built 2002
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.80
    •  
  • 106 Silver Creek Drive Clayton, NC 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2011
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
  • 646 Santa Gertrudis Drive Clayton, NC 3
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2015
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.919.679.9883
Opendoor Brokerage Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2360301
Last Updated: 01/06/2021
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