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192 Rosa Circle Willow Spring(s), NC 27592

3 Beds 2 Baths 1,340 sqft Built 2001

$200,000

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $149.25
  • 7 Days on Market
  • MLS # : 2358832
  • Updated Date : 12/22/2020 at 13:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,340 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Elite Realty

Listing Agent's Description

This beautiful ranch home is yours for the taking! The yard is perfect for your pets, and the location couldn't be better! Spend the mornings sipping coffee on the front porch, or lounge around all day in the private back yard. The living room is perfect for entertaining guests, and the size of the Master is perfect for spending quiet evenings in the heart of Willow Springs! You'll never want to leave, but when you do, take a short drive to dining shopping and more nearby!

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)
  • #7 Best Big City for Jobs 2018 (Forbes, 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)
  • 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: Johnson Glen Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $110k265k

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

Neighborhood: Johnson Glen Plantation

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2700800900100011001200130014001500Rent in $6631595

* 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
Dixon Road Elementary School Primary Regular 551 34 7
Mcgee's Crossroads Middle School Middle Regular 895 49 4
West Johnston High School High Regular 1,359 83 5

Dixon Road Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 34
7
GreatSchools Rating

Mcgee's Crossroads Middle School

  • Education Level: Middle
  • # of students: 895
  • # of teachers: 49
4
GreatSchools Rating

West Johnston High School

  • Education Level: High
  • # of students: 1,359
  • # of teachers: 83
5
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$738
Property Tax -$127
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$153

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.

$200,000

PROJECTED PRICE

$1,190

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.6%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$32,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,197

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1903$1,2004$1,250
$1,250
RENT COMPS ANALYSIS
  • 192 Rosa Circle Willow Spring(s), NC 2
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $0.89
    •  
  • 135 Pebblestone Court Willow Spring(s), NC 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1999
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.92
    •  
  • 21 Pine Bluff Court Willow Spring(s), NC 3
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2004
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.86
    •  
  • 2095 White Memorial Church Road Willow Spring(s), NC 4
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1992
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.90
    •  
PROPERTY LISTING DETAILS
Hunter Johnson
1.984.244.5830
Keller Williams Elite Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2358832
Last Updated: 12/22/2020
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