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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: White Oak Plantation
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$65,375
LOAN DETAILS
$782
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $56,250 |
| Loan Amount | $168,750 |
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
-
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
1.919.650.7563
Dash Carolina
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2364640
Last Updated: 02/05/2021
