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1905 Cedar Court Clayton, NC 27520

3 Beds 2 Baths 1,285 sqft Built 1987

$225,000

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $175.10
  • 6 Days on Market
  • MLS # : 2364640
  • Updated Date : 02/05/2021 at 14:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,285 sqft
  • Baths : 2 full
Listing Agent

Dash Carolina

Listing Agent's Description

Charming 3 bedroom, 2 bathroom home in White Oak Plantation of Clayton! This home features a sought after first floor master suite and detached woodshop. A beautiful stone, gas fireplace is the center point of the living room. The bright & spacious kitchen offers a center island & stainless steel appliances. Entertain outdoors with the huge deck and fenced-in backyard. This cul-de-sac lot offers serene tree-lined views and convenient access to Hwy 70, Hwy 42, and I-40- minutes to White Oak & shopping!

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

Neighborhood: White Oak Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $99k265k

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

Neighborhood: White Oak Plantation

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500Rent in $8081595

* 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 Clayton Elementary School Primary Regular 902 58 6
Clayton Middle School Middle Regular 793 49 4
Clayton High School High Regular 1,512 85 5

West Clayton Elementary School

  • Education Level: Primary
  • # of students: 902
  • # of teachers: 58
6
GreatSchools Rating

Clayton Middle School

  • Education Level: Middle
  • # of students: 793
  • # of teachers: 49
4
GreatSchools Rating

Clayton High School

  • Education Level: High
  • # of students: 1,512
  • # of teachers: 85
5
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$782
Property Tax -$152
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
-$12

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.

$225,000

PROJECTED PRICE

$1,090

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.4%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$13,410

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,086

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,090
1$1,0902$1,2003$1,3754$1,395
$1,395
RENT COMPS ANALYSIS
  • 1905 Cedar Court Clayton, NC 1
    • 3 beds 2 baths ∙ 1,123 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,123 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.97
    •  
  • 114 Gracie Lane Clayton, NC 2
    • 3 beds 2 baths ∙ 1,253 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,253 Sqft ∙ Built 1997
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.96
    •  
  • 48 Scotch Bonnet Ridge Clayton, NC 3
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2007
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.98
    •  
  • 2329 Hemlock Circle Clayton, NC 4
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1986
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.96
    •  
PROPERTY LISTING DETAILS
Brad Hellard
1.919.650.7563
Dash Carolina
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2364640
Last Updated: 02/05/2021
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